Unbelievable! Two good pieces of news this week and the market ignores CYTK. Folks, Amgen gave another huge vote of confidence to CYTK by opening the 3rd cohort(it was their call).
I like the story too but getting a little ahead of yourself, its only a dose escalation call, DSMB, etc...Unless safety caused the price point, why would it alleviate it?
I don't think it's 'getting ahead of oneself'. Fluff news alone can drive some stocks with teeny PPS's like this significantly higher. Sorry but two or 5 cents doesn't cut it. News over the past week should have this over $1 by now. IMHO
In my seven years trading I've NEVER seen a small biotech like CYTK kept down, despite positive news several times this week, two upcoming December presentations and three more in early 2013.
What happened to your 90 cent prediction for today. Get use to DC failed predictions folks. It is the one thing he is good at!
It sure doesn't make sense...and the volume should be over 1 million by now considering the recent news delivered...