I'm not even thinking about buying any more of this stock until I see 3 up days in a row.
Seems incredible to me that people are selling here, but they are.
By the way, there was an excellent article in the Wall St Journal yesterday about biotechs and the fear of cash burn. I don't see it as applicable particularly to GENE, but it talked about the negative sentiment in general towards the entire biotech sector right now.
One company they mentioned was acquired by another company just to get the large amount of cash the acquired company had on its books. If GENE's price doesn't start rising pretty soon I can see this as a possible scenario here.
looks like we might have it. relentless selling pressure seems to have abated.
i picked up a little more a 1.60, but still am pretty deep in the red.
i'm not buying anymore until i hear what they have to say in the earnings call on the 13th.
GENE broke through the upper bolinger band of my TA, and the MACD is looking good also, as is the stochastics.
All this on this low volume and my RT showed to many asks for a move like today.
Signs are pointing to a very interesting move.
You got me to think about something. Most management in Biotech companies sold options in 2000 and made a few millionand are retire if they want to be. If I ran GENE I owuld never sell it, but the CEO can retire at his will, so he may not be as hungry as me to see it hit. I just hope he is.
I certainly don't know what the right price is. But I wasn't thinking they'd wanna sell for $2 or $3 a share, or something puny like that.
All I meant was that if the management was offered $10 a share, lets say, or your $80, they'd probably think about it. Not that they have that much incentive, since they don't own alot of the shares (my old lament).
I think it would be price dependent: Gene would accept a buyout at the right price.
What is the right price. I am speaking as if I were management. If I really believe in Ramoplanin, I would see it through. You have numerous biotech companies HGSI CRA PDLI that hit 10 to 15 billion or more in market cap 2 and a half years ago. I am assuming that if Ramoplanin hits, IF, You have 200 million in sales, times 75%, because 1/4 or actually 26% of sales goes to Biotech Italia. That is 150 million in sales for GENE. If they profit profit half of that 75 million, times a 25 PE ratio, you have a market cap of 1.875 billion, giving you a share price of over 80. If Ramoplanin hits, you have other drugs that can be produced based on it molecular structure and what they learn from it, also all of these alliances that GENE has may produce drugs in 10 to 15 years, so this gives them a long life line to see those results. I firmly believe that IF Ramoplanin is approved in 2005, GENE will at least hit the 75 it hit in March of 2000.