700 Million reasons per year to add this, not sell.
The action today was disappointing but not unexpected. Profit taking from the outset and frustration sales. This is no DSCO dance. This is a major new drug. Not selling till buyout or 25, whichever comes first and it will be in the near term. Don't sell yourself short.
That is exactly as I see it. The big pop came when the panel gave it thumbs up. So approval was just a formality. Honestly, I didn't think AFFY would pop much. So I kept my call holdings extremely small prior to approval. But near the close today, I picked up a lot of long-term calls. The IV had dropped sooooo much, they were all a bargain. I felt like a kid in a candy store.
A $500 million market cap is waaaaaaay undervaluing the sales that will be forthcoming.
I really do think that Affymax will be bought out, most likely by Takeda.