Now that ARNA has surrendered half of its prospective market (the half which it was supposed to have all to itself), they will be reduced to battling it out with VVUS for the relatively small number of people who want to risk losing weight via an expensive psychoactive drug. As for today's action, what the longs here never realize is that the MM's are both long and short this stock. They were obviously shorting it at 8.40 yesterday, and probably planned on it dropping to 8 on a "no news" CC. They were taken by surprise by the announcement of EU withdrawal and had to paint the tape in the premarket and prop it up above 7.50, then churn the stock desperately to unload shares. What the surviving longs will realize over the coming days is that they were, in the course of exiting themselves, holding the door open for you to get out. After all, when over half of your prospective revenue vanishes, something more than a 9% drop in the stock price is coming.
Bear's not short. Just a bitter old man that is always wrong and has nothing better to do than troll this board and talk a bunch of #$%$....He's always wrong though, acts like he has some level of knowledge but really just looks at historical PPS and then comes up with some story about saying this or that and how he was right. Never made a call in advance and I am pretty sure I took have a second to look he'd be wrong yesterday too.
The stock market is the scam-this thing is driven to 7 every 3 months right at earnings-if it holds to form it will be ten in the next thirty days -then methodically shorted back to 7 over the next 2 months after that-I almost bought in last night at 7-but i have been doing so well in my other trading I couldnt bring myself back to the painof a stock like ARNA
I have only had tiny long positions in this stock in the past - I think I netted $400. I have never been short the stock because (1) there are never shares available to short, and (2) I don't think it's smart to be either long or short a stock which is so totally locked up by the MM's that you can't short it. Basically, the price is whatever they say it is.
I did not hear anything about abandoning the EU. I heard that there would be a withdrawal in order to better present the data that the EU is looking for.
It makes more sense to launch here then go for the EU. I think Jack was basically saying, with regards to the EU, the cart was before the horse.
Do you REALLY believe that, or does it make you feel better?
There's only one reason ARNA management would pull the plug on a market they'd spent so much time and effort trying to get approval in. Hint: it's not because they just had so many other things to do.....
What the EU would require for approval would be clinical trials which would disprove the nonclinical indications of tumors, etc. There is no way in the world that ARNA could afford to run such trials.