IMO, the news was great. Palmisano said he still owns tons of it. The same traders who bought it up from $4.50 back in April and later at $5.5 + are the ones who are dumping it. But, if you bought before then at these prices ($3.50+/-) and for the long term (as I did) because of the drug's potential you have not been disappointed. The interim price fluctuation was strictly due to the management changes and the interest of traders looking for a quickie. Personally, when I bought it I figured it would still be sitting around $3.50 to $4 until the FINAL TRIALS WERE COMPLETED. If it had not moved at all since March and was still sitting where it is now I would not be disappointed at all. To the contrary, if that was the situation, the recent PR would probably have moved the price upward.
Emotions are affecting investor rationale and sane, common sense evaluation of the entire situation. To reiterate Palmisano: THE DRUG DEMONSTRATED THAT IT DOES WHAT THEY WANTED IT TO DO. IT MAY TAKE MORE TRIALS JUST LIKE THEY EXPECTED.
Now, hopefully, the traders and shorts will be happy and leave the stock alone. Personally, I am buying more.
And, IMO, the fundamentals are better now than they were before. Unfortunately, TA-wise, we must start over. I would expect more PRs in the very near future and, hopefully, they will be positive in nature, especially regarding the few problems they have encountered.
Sorry jeftest, but let's be realistic. To start with, I'm not a basher. I've been a MCHM long and made some $$ in the stock.
The key point is that the Topiglan studies to date have not demonstrated efficacy according to FDA P3 standards that require sustaining of the erection for successful intercourse in an "at home" environment. Achieving penetration means nothing in and of itself without meeting the "sustaining" requirements.
Until such a study is successfully completed and reported on, any statement that Topiglan works is premature. Topiglan efficacy can only be speculated on by the bulls by extrapolating that erections would have been sustained had the drug not degraded. Perhaps yes, perhaps no.
Bottom line will be sustaining the erection to achieve "successful intercourse." Anything less than this will not wash.
I have learned from experience that you only know that something works when it has been clinically proven that it works. Not by extrapolation, which is no more than guesswork.
Hopefully for MCHM, future studies will validate Topiglan's efficacy and lead to successful completion of the P3 trials and JVs.
If so, MCHM is an absulute steal at today's prices.
Biotrekky you are an idiot. The stock is by no means a steal at this price. It is heading for the 1's. Open your eyes. And YES, this means chapter 11 EVENTUALLY. Maybe not now, but YES EVENTUALLY THIS COMPANY WILL BE NO MORE.
Hi Trekky, I know you're not a short/basher/etc so I'm not looking to argue. I am, however, posting to give you Mr. Palmisano's words which were "we now have substantive proof that Topiglan works".
His words, not mine.
I was on the call, asked a few questions and am most assuredly disappointed with the results/news.
I am of the opinion that this is a temporary setback and that the long term objectives of this company will be met. Again my opnion, but I believe they have the management team and the product/technology necessary to succeed.
Sure hope no one made any big ticket purchases based on their short term expectations of big money gains.
the drug demonstrates that it does what they wanted it to do? whats that -sting and give you a half boner that wont even last throughout intercourse, not to mention the stinging effect combined with being humiliated in front of your partner