Kitty I don't trade events. I bail before that risk. I am not holding AVEO. I was hoping the vote would be positive so I could make a runup trade before the FDA decision. Now it's worthless. I mean AVEO is trading below cash right now!!! I saw somebody bought $2.50 puts and thought..."how stupid are they" this is not going to trade under cash...Boy was I wrong!!!!
I have no position.
I just covered my $NIHD short at $7.75. That's 25 cents on 3K shares. $750 profit...
They are not dead, but it may seem that way for a bit. They will book and meet with the FDA and likely plan out another study! Hopefully their partner will stick with them althouygh Astellas isn;t the smartest japanese bio out there!? And yes oncology plays are tougher than the average bio plays and fraught with much more risk!
I read thru the briefing documents and my first thought was more study work---classic ODAC---old school in thought!I avoided this one. I know a friend who played a little and I am glad her play was small!