Yes the hedge fund vermin Shrekli was the catalyst to get everyone's attention, but keep in mind that high drug prices in the US has been an issue for some time. Why in the world does the US allow taxpayers to be screwed over in the name of drug company profits? Other governments in other developed countries negotiate lower drug prices but our government bans us from doing the same?
In the past week or so I bought GILD, ABBV, IMGN and MNTA. Today I bought MDVN and am looking at buying more ENTA and SGEN as well.
IPGN, like most biotech companies keeps dropping due to short-sightedness, fear and stupidity by many sheep investors. Buys more shares if you have the cash and I am not talking about just PGNX.
Lots of competitors in the NASH space, several of which have deep pockets and some with more advanced drugs. Not a great place for a little guy like GALT to be in.
The shorts are irrelevant. The news about Opdivo in NSCLC was relevant then and remains relevant now.
No the shorts increasing their position isn't the bad sign. The bad sign was Opdivo getting label expansion into NSCLC.
It has been a long wait, but I thought PGNX should have been close to $10 after Relistor label expansion was granted for chronic pain, or at worst have to wait until the oral formulation is approved. Looks like we might get back there even before the oral formulation is approved.
Pretty impressive move up, so far on a down day.
iba40, Yes multiple facilities will be involved. As far as when the yet to begin trial will be completed, I can't venture a guess. We need to wait and see how quickly patient enrollment proceeds first, then let PGNX/Valeant give us their estimate.
Exciting times for PGNX and PGNX shareholders. So nice to wake up in the morning and see the stock price crack $8. I felt is should have gotten here sooner, but I am a patient man so can wait even longer until we crack $10. FDA approval of Relistor Oral formulation should do the trick.
Greece is pretty irrelevant. China is where the real concern is. They have kicked the can down the road about 6 months but who knows what will happen then.
Nice to see 1404 is set to begin a phase III trial before year end. It would be nice for PGNX to give an estimate for how long the trial is expected to take.
Looks like we start another ride up on the stock price roller coaster! It is a bit surprising since I figured stocks would be down across the board because of the Greece NO vote.
pgp, I doubt there is any factual data driving the stock swings. The momentum traders get hold of a lightly trader stock and the wild gyrations begin. The options are to sell some when the price spikes high unexpectedly and without news, buy some when it drops low unexpectedly and without news, or sit tight and watch with amazement. I must admit I came close to selling some over $8 but held off.
What falling knife are you talking about? It sure as hell isn't MNTA.
syenfrout, I sold some more SNTA yesterday to reduce my holdings to 40% of what they were earlier this year. SNTA is being passed by in NSCLC. I am dubious of its prospects there. The wild-card that might help SNTA is the I-Spy Breast cancer trials.I think once they get the HSP90i-conjugates going in trials, they will become more attractive, but that won't start until early 2016.