I still see references to pre-split prices (Robert mentioned it today, in fact). For everyone here who doesn't know it, the reverse split occurred March 2, 2011. My question is........is there a time limit when we can stop referencing that and just deal with today's price?
Just because something sounds "cool" doesn't mean it's necessarily a winner. Take Insmed (Nasdaq: INSM ) for example, which debuted on the Nasdaq in June 2000 and has eroded 95% of shareholders' investment since then. Over the trailing 10-year period, Insmed has burned through about $216 million in cash and still doesn't have an drug approved by the Food and Drug Administration to show for it.
Insmed currently has multiple clinical trials being run for its inhalable liposomal amikacin, known as Arikace, which is being targeted at serious lung infections, including cystic fibrosis. Testing of the drug in mid-stage trials suggests Arikace was well-tolerated and more effective than the placebo; however, a clinical trial halt (which is over now) by the FDA in early August of last year over safety concerns in tested animals reminded investors just how fragile and uncertain Arikace's chances of approval still are. Even with ample cash in hand, I wouldn't put yet another secondary offering over on Insmed, nor would I assume that an approval would put Insmed in the green considering all it's invested in Arikace's development, and the costs of acquiring the experimental treatment by purchasing Transave. Conceptually, the treatment sounds fantastic, but I'm not sold on Insmed at $8.
I can predict with absolute certainty that Bizarro Boy, Budgie and the others here consumed with jealousy because their lives have not worked out as they had hoped will continue to try to annoy us by pretending that our shares are worth one-tenth of the current price - at least until such time as the Company has to do a normal stock split, thus reversing the reverse split.
fud...please try to explain away the effective 1:40 RS over the years. Without those two RS, Insmed would have 1,240,000,000 shares outstanding. And, you maintain that Insmed has had stellar management over the years. Just so you aren't confused....that is 1.24 Billion shares.
As an old timer here (10 years) I will continue to refer to the split, as I bought pre-split at $11-15 and post split .40 to .80. (I assume other "old timers" will continue to do the same)...so what was 220,000 shares is now only 22,000 shares....So no time limit for me until we get taken out and/or I hit the road for good...good luck to all....
and me put the the SP in context of the price at which we bought. I bought in from October 2005 to October 2008 and waited for the MMD "slam dunk." Of course all Longs that held on in anticipation of that event got "slammed" in terms of their investment. So my investment was $1.03 (average) per share back in that time period. That means I have to clear $40,000 to get back my investment. That equates to the current stock going to $10.30 according to my calculator. So if the SP is currently $8.00 plus for the RS shares, I am about $2.00 down from my initial investment. Hoping to close out position if the stock hits $10 and stagnates, or sell half if the SP hits $20. I think the SP can go to $20 if NTM gets outstanding results (eradication in 30 days of Rx or two log reduction in 84 days of Rx). Either result would be a good sign for Arikace's future.
Okay, thanks for your reply. I assume that you have posted here before since you replied quickly to my query? I am interested in knowing what id you have used in the past as the id you posted today is the first one on this board.