Good news that over 15% of float traded well over $8
There was alot of good news today even if rumors are not true. Remember that the trading today puts a new floor on ASTX. Over 15% of the float traded well over $8. I believe that now there is greater recognition that even $9.50/share is too low a buy-out price. There are other companies that would be interested a company like ASTX that has no debt and has over $130M in cash and a great pipeline. I purchased most of my shares below $3/share when it was SGEN and none of the analysts like the stock. ASTX has many key partners and they are a leader in their area of expertise. I do not plan on buying any additional shares at this time, however I do not see any reason to sell. There have been a number of comments regarding the fact that no news came out after the market closed and no real action in the after market. Why should there be, nothing new in after hour or just before the close. Remember what happened with NOK and MSFT, rumors have been around for along time (NOK below $3/share) but nothing announced until this week. Where there is smoke there is potential fire! Even if ASTX is not taken over their stock is worth over $10/share.