With EU withdrawn, DEA will have a hard time driving this to $13.50 IMO. Maybe 9-10. To get to $13.50 ARNA will have to have excellent sales and a new drug further along in their pipeline.
The only good news from yesterday was that Longs do not have to worry about the CHMP on a monthly basis. This is now easily 6-12 months away. For now it has been simplified to DEA and sales.
ARNA management killed the Long shareholder by releasing this "surprise" yesterday. With that said however, a lot of shares traded over the two days and it is my guess that Tutes bought a lot of them. If you are a long term investor, in 6-12 months this too shall pass. I was in full support of JL until yesterday. Now I am seriously questioning his leadership abilities as well as his "vision". Maybe he needs to get his eyes re-examined. JMO
Arnea management views shareholders not as partners but rather as marks from whom they obtain funds from time to time. Their attitude is "invest in us at your own risk, if you do well fine, if not, tough."