Please note the following:
Nov 12 - puke day
Nov 13 - capitulation, low hit at 12.12, insider buy here at 12.94
Nov 14 - bargain hunters stepped in at open 13, zoomed to 14 by noon
Nov 15 - some profit taking but hold up good above 14 on opex day
Today - some profit taking in am, but zoom to 15.46 and still strong bid above 15
Volume is steady.
I think $16 is not a problem and if can continue, there's a good gap to play to $20.
FDA opinion change because due to the failure of prosensa. FDA actually WANTS SRPT to succeed but
it wants SRPT to slow down and objectively evaluate its tests with traditional proven method.
Do not use the AA method. That's what FDA is suggesting.
But, you know that this isn't a FDA problem to solve. Their job to make sure the approval processed works according to standard. It is SRPT job to make sure they abide by the standards and get the tests done, correctly.
Again, stop blaming the FDA. I think SRPT got their hopes high because of the anticipation that AA will be done.
But, it isn't.
FDA hasn't really DECLINE the AA yet. But, they're suggesting that SRPT needs to provide more convincing data so that it can be likely approved in future.
So be patience. This is a good lessons for any biophama who wants to jump the queue.
If it gets there, just BUY with both hands and hold.
Do not take profit until it gets to $10+ by end of this month.
Actually, it's not.
SRPT hasn't gone to phase 3 yet but at least they got phase 2 correct.
But, you can't push FDA to do AA even if you wanted to because of just limited phase 2 success.
FDA works at their own pace. Too many people bugging them for their miracle drugs.
Very little success trying to push them.
SRPT will recover if it can put out a good clean plan for phase 3 and be successful if it can prove
Eteplirsen works for a much larger group.
Nah..Just $6 to go from here. Not much to play with now.
Already shorted from $37 yesterday. I think SRPT will stabilize when it gets to $10 by end of the month.
I will hold here..
How do you feel if the drug later caused more unintended risks and other problems come up just because they tried to push FDA to accelerate the approval and completely bypass the protocols?
Stay within the rules. Don't rush them. SRPT will do fine if Eteplirsen really works in the future.
Between now and Q2 of 2014, FDA will look for confirmatory studies.
SRPT must find enough patients quickly for the placebos controlled.
SRPT must work harder and not be lazy.
FDA already put the ball back into SRPT court.
Buy May 2014 call. It's closes at 1.20 today. If it goes to 25 by May, you will have around more 300% gain.
If it doesn't get to 21.20 by May, then you lose the premium.
It's only $1 from where you are... so don't worry. But, I would not touch this either long or short now.
The machines took over and it can be as low as $10 by end of the week or goes to $8 by end of the month.