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Synta Pharmaceuticals Corp. Message Board

  • apachefogg apachefogg May 8, 2014 5:50 PM Flag

    Not quite what I expected but not bad

    Several points
    1)$27.3MM raised from MLV and $5MM from Kovner===$32.3MM added to additional working capital that takes SNTA through Q2 2015............Liquidity is not an issue.Possibly increased future R&D and SGA expenses to Ganetespib which may be tweaked to fast track to FDA.Possibly investors were been given vague assurances to the future time table.
    2)SNTA (although today's results may look bearish) has thrown an inverted hammer with a very long shadow (to $4.24)on almost average volume.This is an extremely bullish bottom reversal sign.Support has held and short sellers may cover...gradually....knowing that mgmt has stated there is liquidity for 12 months and SNTA can not be driven to the ground......for the shorts....maybe onto fresh pickings in other bio pharms.
    The only thing shorts may expect is unpleasant surprises.....maybe not tomorrow but down the road.
    3)Despite the low price,SNTA is in better shape than in the past year when it was at much higher prices.
    4)Lastly,despite the rudeness of a previous MB poster,SNTA is still intact,assuming it holds support(I think it will above $3.92) and does not go below $3.70.
    SNTA,despite appearances is in an uptrend if it closes green tomorrow.IMO,it will.
    The price is extremely over sold.
    IMO,today is the harbinger of more good news to come

    Sentiment: Strong Buy

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    • Just adding to your point of technicals: An article today about 5 stocks under 10 set to soar and SNTA is the first one they talk about.

      Sentiment: Strong Buy

    • it was what I expected exactly and so I sold my trading position at 4.18 and bought it back later at 4.00. lowering my core basis some more. I hope you are right and it rallies to 4.20 tomorrow and I will be able to lower it some more maybe even below 3.90 cost basis. We knew of the loss (actually slightly less than what I thought, good news) and didnt expect anything but rehash on trials or they would have come out separately but glad for opportunity to sell trading position and reload lower.

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