unreal but that's the FDA. You are Obease. You have a body that is overworking the Heart and arteries that probably look like sewer pipes. Heart disease will probably shorten your Life or kill you unless you lose weight. So the FDA decides that the risk of major adverse cardiovascular events in overweight and obese subjects if they take Contrave,(A positive), is greater than if you live in a bowl of Gravy, until your Heart stops anyway. Let's do another study and use Gravy as the Placebo. This sucks but that's why we diversify for day's like this. Not much to be trying to add humor to this but that is what I see. We all will recover from this BS and trade on. May our day get better and stay away from all diving boards mounted on high places. GLTA..
There won't be a bounce. Give it up, it's over. Move on and take your loss, because there is only a black hole here from now into the foreseeable future. yet another good American BioTech company destroyed by the FDA...and that's that. Take subjective opinion AWAY from these scumbags, and you get an effective system. Until then, BioTech is not science, it's a pure Vegas gamble against who feels like what, or who is getting back door payment from who on any given day at the FDA. Patients, companies, and investors be damned.
longs laughed at me when i said the FDA does not have to, and in this case likely will not, follow committee vote because the committee is a completely separate entity from the FDA with different motives and more on the line.
I do not get kicks out of saying told you so, and I am sorry for the longs' loss, but before you cost average down realize that these cardiac studies are very expensive because to get adequate power you need many many patients and 2 year study or more. Before you start thinking how cheap this is, start thinking when is this company going to resubmit and how much cash are they going to need.
you give very good advice. Today's good jump-in price could be tomorrow's quick sand. Though the price may jumbp around, this thing could easily grind 30% lower from $2.50. Two years before yesterday, the price reached under $2 and that was without the coming dilution.
And remember - Takeda does NOT share in the pre-approval expenses. While OREX has $2/sh cash - it will likely take much more than this amount to do the study being requested.
comparisons to VVUS are also a little off-base - VVUS has a second drug in their pipeline totally unrelated to obesity - avanafil has just completed phase 3 trials and will likely be submitted for approval sometime this year or early next. (not recommending vvus here just pointing out differences).