<I wonder how big funds who invested at that price are feeling about their quick 10% haircut>
Three things: 1) $7.30 was paid by the investment brokers to ARQL. Therefore, the funds got into at higher prices somewhere between $7.80 and $8. 2) The funds knew what they were doing and expected the price drop below $7.30 3) ARQL is NOT a trading stock. It either will go down back to $2-4 or will fly to $50+. This is biotech. This is an intelligent gamble.
Finally, one makes money in biotech either using insider info or having supreme patience.
I'm planning on staying the course. Pucci & Co definitely know what they're doing and they're motivated to stay the course as well (lots of options to exercise if they can make this work). From the annual report, definitely concerns about potential for the next in-line pipeline (621 & braf)...so pipeline an issue. On the other hand lots of opportunity with 197. Next week should be interesting...