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Synta Pharmaceuticals Corp. Message Board

  • lilgodfther lilgodfther Jun 20, 2013 4:54 PM Flag

    Kovner Bruce bought another 200k today at $4

    he just keeps adding to the pile

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    • He aspires to be a little Ben Bernanke.

    • Don't you wonder if Kovner is buying top-of-the-line independent advice concerning the validity of the technology and the significance of the trial results to date? He can certainly afford it, and it would seem to be prudent. But perhaps his holdings, though monumental to me, are trivial to him. Could it be he's decided to
      suspend his hard- headed money manager skills and take a flyer. I seem to remember there was an individual investor from Florida who put an approx. $30 million stake into Antigenics, another biotech developing cancer vaccines based on heat shock protein technology. His faith in the CEO never wavered and he rode the stock right down to pennies. Even smart, rich people can do silly things if emotions get the better of them. I'm hoping Kovner has done his homework, weighed the odds, and has good reason to think the deck is now stacked in his favor.

      • 4 Replies to davidsandler123
      • Bruce has over 2B $, Its like you having $2,000.00 and you give away $2.20 , It means nothing to him, But I do think we get a bump out of this none the less, As for adding another 100M shares to the existing 100M, That dont make any sense to me.

        We have enough cash to last till the mid 2014's so why do we need another 100M when we still have over 30M shares that have not been issued ??????

      • makersden Jun 20, 2013 7:45 PM Flag

        Didn't the company just file to add another 100,000,000 shares of common stock to the existing 100,000,000 shares? i believe bruce was on board for this request. His buying more seems weird to me because doesnt diluting the shares typically drop the price. Would be more logical for him to wait for the expected pull down then buy. Not certain what he is thinking? Hoping this guy is not some kamikaze pilot with a fleet of unknowing planes following him.

      • $$$$
        The science of heat shock protein inhibition is intact. The variables of HSP 90 competition, targeting the optimal patient groups, and combining therapy with most compatible candidates constitute the bulk of obstacles to enabling valid trial design to guarantee a successful NDA filing. Handicapping the odds of trial success in an evolving treatment landscape is a full-time job....and even the experts never always get it right. With that said, I feel that ganetespib's strongest showing to date will be in the P3 ALK+ trial w & wo Crizotinib. Overcoming Crizo resistance appears to be the easy money...
        My guess is BK is betting heavily on the run-up to these results, as well as the results as delivered. The best news is...we have a viably statsig OS signal. Finding the most suitable, least competitive entry indication for an NDA filing may take some time as the low hanging fruit is vanishing quickly as unmet needs are met. Quite frankly, G would benefit greatly with an in-house CDX program.

      • David, are you saying that Bruce is wasting his money by sport?
        Do you know how rich people get rich? doing the opposite you are suggesting.

    • I think his average purchase price for the shares he bought a couple weeks ago was about $4.63… So, adding these in, you get around $4.57-$4.58 as his average buying price this month. So, as of the close today, you can buy shares at a nearly 16% discount to what a wall st / hedge fund titan an multi-billionaire just paid.

      Just sayin.

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