Not true. Biotech in general near all time highs. A lot of it is based on big pharma merger buying activity. They need to replace revenue of expiring drugs fast and that means buying something that will move the needle some. I don't know of many mid-cap biotech companies that have a drug already doing a billion in revenue and expected to increase drastically in coming years.
Mid-cap biotechs with billion dollar drugs should always trade for a premium considering they are the perfect take over target. That's how you make big money trading biotech. Also medivation is growing like a weed and printing money.
Actually if you follow the author he has a very good track record. His last article on BIND said stock would increase 50% in next 3 months. I just sold yesterday for over 60% gain. You're right, the author was completely right because it only too 1 month to achieve.
Yes, out of all the mid-cap biotechs Medivation should hold its ground well. Has top selling cancer drug and company is printing money right now. Also with big pharma looking for revenue they are one the best picks to be bought. Not many buyouts can provide almost guaranteed billion dollars in revenue in next couple years.
I am 10 cents from being in the green. I loaded up when the stock doctor said to buy when price was .70. Looks like he was right.
It's nothing. Just very low AH volume, likely an error. Already back to closing price AH.
Problem with shorting this stock is the rate at which Intrexon does deals. You never known when stock will rocket 10-20% and get called on margin.
All the negativity was from academics or fertility doctors in the US who don't want patients going to Canada for their treatments. There is no need for control groups in these studies as the fertility rate based on various conditions is established and well characterized. You notice everyone who is offering AUGMENT overseas really likes the pregnancy rate. I just think it's very funny to see some of these reproductive biologists say this type of treatment is not proven and shouldn't be in humans when the only experience they have is studying oocyte maturation in mice.
I firmly believe that Tirasemtiv has much better shot at being accepted now that respiratory function is approved by FDA for next trial. Personally I don't see why they even need to do a Phase III when Phase II was already one of the biggest ALS trials ever but I guess that drug politics.
Think Cytokinetics with just Tirasemtiv will look alot like ACOR in a few years.
Not sure why the big drop last few days, likely just due to overall biotech. Medivation, however, isn't built on hype. They are actually selling and growing rapidly. Most biotechs overvalued have no products on the market.
Everyone thought data would be good in MDS trial not just this guy.