The grand puba speaks on CRTX this Thursday 9th, and the stock drops early, but wait, its suppose to go to 12 on this great innovation in cardio! The catalyst is just weeks away. Hmmmm what gives?
Trailing-12-month revenue decreased 21.3%. Wonderful! They sell assets they could not sell! They cut their sales force again. They buy this wonderful Cardio med for $1M that killed the last compnay that had it. They will take another massive price increase on the EKR assets bought and then.... What next.
I'll tell you pump and dump. this sucker is going to vrash harder than the 6+% it dropped today! the individual traders will get out in time leaving a lot of suckers stuck.
Massive price increases always help. 500% price increases of the assets they are selling off. The buyer is the sucker.
Once again, the CEO cannot hold his stomach and is killing much of the sales force....AGAIN. This is the 3rd or 4th time. Expect sales to drop as well as expenses.
Sorry to say, but your a sucker, look at all the previous posts about approvals! They have never gotten an approval, and collard said they would have atussionex generic approved in dec 2010. Hahahahahahahahah
It is cheap for a reason. What quality asset is bought for $1m in this industry? This is a gamble at best just to say they filed a product with the FDA. Where is that Tussionex approval promised a year ago. Can't get a generic approved.
They will cut their office based sales force with the sale of the antibiotitcs they took a 500% price increase on. They cannot get rid of these fast enough before returns hit.
Ask this question on the next call....Why can they not acquire assets with revenue with all that cash?????
Approval, then one month of terms discussions, 1-2 weeks for selecting the highest bidder, one month to agree on the definative agreement. It takes one quarter minus the hoolidays of 2011 to come to agreement. I bet we will get partner news any day or by months end. Great news for 505b2 companies...the IRS made expensing of generic development much tougher and now generic companies have to expense development the way brands do. Great news for IGXT.
Look at Lannett. They cannot move the needle as ANDA generics area dime a dozen and the opiod space is 99.99% generic. What a joke. An NDA would grab our attention, .....and everyone thinks they have a blockbuster.
IGXT will pop in the next few days. The partner is selected from what I hear from Pharma partners that were asked to leave the process. Also, look at TLON, CHTP, PLX for near term runs.
The announcement should be out about a partner this week or next. Several companies have been turned down based on a superior offer from another partner.
Once again, This is a deviation from their current focus. First respiratory, then anti-infectives, then hospital, now CV. What a mess. Now take on more development risk and they have never been successful with development. They have turned the mgmt team 3-4 times since 2006. This could be the final nail.