He's just seen his November puts vaporized and is venting. I'll bet that until today, he didn't even know what MCL is.
Your inept portrayal of an aggrieved long is unconvincing. The only thing you know about this stock is that it seemed to be weakening, which led you to gamble on those cheap puts without even knowing about the company's products or prospects. Tough.
What this clown wishes he never bought was those cheap November puts. Having first bought this in November of 2011 for 12.87 a share, I don't feel victimized. It seems to me that a ten-bagger amply rewards two years of waiting.
What I meant to point out is that if you really had undergone "years of waiting", you'd have been well -rewarded. Your lack of knowledge of the stock's price history demonstrate that you've probably been waiting since last week for your Nov120 put to finish a few bucks higher, and are now understandably vexed.
Yeah, those of us who have held the stock since Jan 2012 (when it was at 14.82) are really feeling like saps. And it's only doubled in 2013. Yep, that's garbage. What some of the less aware don't seem to realize is that the results of the trials in 2012 made approval a foregone conclusion, which is why the stock quadrupled in 2012.
Actually, of course, even the shorts aren't dumb enough to actually be short this stock. They just held the Nov 120 and 125 puts, gambling that nothing would happen this week; the 120's have been wiped out, and the 125's will soon follow.
The 140 target assumes MLL approval, a much larger market, which will be forthcoming.
The shorts who didn't cover on that little "sell-on-the-news" dip will regret it. I added 500 @ 117.70 and another 500 @ 115.73 (sometimes good news is really good news) and sold them @ 119.83 and 121. Remember, that this company was basically breaking even without approved drugs, and are now instantly profitable, ...even with only the MCL approval. It will gradually sink in that the CLL and Waldenstrom's approvals are also inevitable.
Adage, which has been supporting this at around 40, decided to sell some of their new shares to the shorts, I think.
It would be nice if we get approvals for CLL and Waldenstrom's before yearend. MCL was a slamdunk, I think, since there really are no other therapies that work, and ibrutinib works remarkably well.
It was the sudden appearance of amateur shorts here which encouraged me to add this before the nonearnings report. This stock generally has a tiny short position, and although it moves under the radar, has strong sponsorship.
Most would. But Auerbach was CEO of the company that developed Zytiga and sold it to JNJ for a billion $. (a steal for JNJ, it turned out) Presumably he can cover the tax. Although, in most California companies, one does not take that risk. If this stuff works, he'll get all the stock he wants.
Extrapolating from the Astellas sales figures, it seems likely that the company is nearing profitability. Historically, this is when these companies begin to enter a second stage of appreciation.
The study in previously untreated MM patients shows that they generally do much better if they are put on Revlimid right away, rather than waiting for the disease to progress. This is in line with the current shift toward more aggressive treatment of newly diagnosed MM patients.
Well, to extend the old analogy, when the train starts to make sounds like it's getting ready to move, there will be a rush to climb back on board.
The key abstracts seem to reinforce the earlier findings with regard to ibrutinib's efficacy in CLL. While the early stages of the study suggested that it worked in patients with the 17P deletion, it worked elss well. The updated studies suggest that while those with the 17P deletion (a particularly intractable form of CLL, I gather) do not clear the lymphocytes as quickly as others, they nevertheless respond just as well to iburitinib. It just takes longer. Which, from a crass pharma peddler's point of view, tends to be a good thing.
I had both, having sold most of my CLDX @33 and added some back on the way down. Sold the CLDX this AM and added PCYC. I think that by the end of the day, you will not regret your choice.