Your right Muck, with all arql has accomplished this year and the stock mkt. at 4yr. high and ASCO around the corner, we are exactly where we were this time last yr.
Stock lost all it's momentum with dilution.Sucks big time.
yikes...unfortunately, we're all familiar with this script. It's going to be a long summer I'm guessing. I do know if I sell the next morning Astellas (OSIP/Tarceva) and DS will get into a bidding war for ARQL!
Biotech can be pretty frustrating but of course bottom line, we need sigificant ph 3 results.
Muck, too early, there should be one more run before the summer doldrums! ASCO is not what it used to be, still, abstracts will drive up interest once more till mid May. The eventual self-off will probably kick-off before the actual event. Now, if they make a good showing, there is an outside chance for more upside in the summer like PCYC last year. Of course for nine years in a row, I have asked myself the question "Will this year be different?" LOL.
like all of you, I have been in this long enought to see the same thing over and over again with Arqule. Bottom line that I've come to realize is that the market is not going to reward Arqule until successful Ph3 and maybe not even until approval. Pucci & Co is looking smart for raising money at 10% premium to current price. I think dilution is irrelevent. I also think missing by $.01 is irrelevent. With all of the institutional leverage in this, it doesn't take much to move this up or down. These annual swings are just more short term noise in a tide that seems to be generally moving in the right direction. We are either holding a diamond or a POS. There has been nothing that has happened recently to signal a POS in my mind. In fact, HCC was gravy and it further validates the theraputic benefit of our drug as stand alone, which gives me more confidence that we will see a benefit in the subset that we are targeting in NSCLC after learning from PH2 results. I'd rather have a company with a stronger balance sheet, more flexibility in negotiating other partnerships and take the minimal dilution and short term drop then get caught in a cash crunch and take much bigger dilution later. nothing new, but no reason to be negative in my mind....good luck..
peterd - hope you're right. You got me beat by one year. It's been a long road. I also follow PCYC...but of course managed to avoid investing in it! Another one I follow, CLDX, screwed up their ASCO submission...clicked the wrong box and ASCO wouldn't let them fix it...the most brilliant scientists in the world and then someobdy clicks the wrong box. Anyway, I'm holding out with ARQL...based on the conference call back in Jan, the HCC presentation at ASCO should be good. Kyowa has finished gastric trial...a good result from that would be helpful right now.