If FDA is ok with supplier, pozn can file NDA (no change) immediately, this will be material news. POZN will have to hit the wire. If we need to wait till earning release just like the last time, it will be bad news. On going blah blah and contact new supplier blah blah...... It will take at least one year to get approval to select new API supplier.
Well, it used to be a channel stock, so write covered call is good strategy then. Now it is momo stock. It runs on steam. I bought back a small portion and will sell on technical rebound. Of course, with very tight stop.
I agree with biotrader. POZN is too far ahead of fair valuation. It might be the honey moon effect of new CEO but eventually we need to see FDA approval and sales. All are still pie in the sky.
I wouldn't say winner. I am doing ok. My initial cost is in the high 8s. Under old CEO, this stock was a heart breaker for two years. 2 weeks under new CEO make it the best of my investing.
I feel it is shorts know something and short at will..... When they short comfortably at $5s, the bad news will bring it down to $4 at least....
Normal scenario pull back -- $10.5
Extreme scenario pull back -- $.9.5
If FDA rejects supplier again, watch $8 support.
Our old CEO Pachenko hinted FDA was too lazy to do their jobs. Adams is no Pachenko. He will work with FDA proactively (begging, kneeling, whatever it takes....) because that is his bacon at risk. When the news come, you can be sure it is only good news.
She basically exercised/sold 25000 options/shares every month beginning this year. Her title is VP of secretary. Probably will let go soon after old CEO retired. She is the only insider selling this year. I am not concerned.
I think there is no need to keep Chapel Hill office and employees. They had no contribution in the past year and will not contribute in the future. All they did is to sell stocks from options. These salary savings can be well used for the new company.
Oh, I am pretty rational. I put a post advised fellow investors not to write covered calls yesterday because we might see double digits. Overall I believe in this new CEO. 1000000% better than the old one.