Now that it's here, what is the possibility of this turning into a major short squeeze, you know, the kind that happens rarely but turns every short position into a margin call instantly? When it happens, it tends to happen to a biotech stock, but usually there is a catalyst...
Well, funny enough I looked at the short interest on NASDQ site just to see what was going on (not that I planned on trading on the information) and was really surprised to see the short interest getting higher up here. Every dip is now a buying opportunity on those shorts. I know I would be covering on any weakness at this point if I was caught short and wrong on this one.
Here are two catalysts that Seeking Alpha mentioned two weeks ago...
"Insmed's near-term catalysts:
Europe: ARIKACE Phase III trial to treat CF patients with Pseudomonas lung infections enrollment completed. Top line data reported in July 2013.
US: ARIKACE Phase II trial to treat NTM enrollment well underway. Top line data expected by year end 2013."