Over reaction? Hardly. The company opened up the possibility that they may withdraw from the Arikace pipeline;;;no one knows the extend of the FDA's actions but for the company to suggest this and offer no direction,I doubt any would invest in Insmed.With 85M and the threat of lawsuits dilution and nothing to offer,the stock may crash far more.This FDA is the worst ever.
Market internals weaken(a/d line very poor) and eventually we will make it down much further,although the market is oversold,so trading bounces will be profitable.I am still in the dollar and a couple stocks with good futures. Insmed is dependant on the FDA outcome and the decision strategy of management.The 2 markets will exacerbate the move up or down imho.I had hoped for a rally in INSM,but Insmeds EC was a huge negative. I've always been a skeptic here because the biotech sector has a high % of losers and every bio is the next AMGN.I doubt I will be in any market investment in the next few months..hmm doesn't sound joyful,but have a Happy Thanksgiving and be grateful for family.