The whole sector is get crushed by profit taking on one side and tax-loss selling on the other side. Happy Holidays and a Happy New Year to all.
One thing I have heard said in the past is that when there is a huge increase of volume at the close on Friday, you will get a an unexpected news item on Monday morning. Let's hope Roche has decided the price is finally right.
So far 4 million shares traded AH's. At $1.33, that may not be an awful lot of money for these guys, but I think there is more than tax loss selling going on. With the 8 million shares that traded during the trading day, that makes 12 million shares changed hands today. It could be just the tutes playing games for year-end portfolio adjustment or we could be seeing the end of the short play.
Dawg,so let's assume Morrissey and Gisela learned their lesson and set a lower bar for success in Meteor and Celestial, do you put a 50% chance of success on these trials or higher? Secondly , what do you think of kwasmis' warning that 60mg is too low a dosage for cabo to succeed?
The MM must have been putting that trade together for the last minute since early this morning. It looked to me like over 5 million shares traded at the close. The MM must have put together a major short with an institution that desperately wanted out before they had to report their year-end positions.
I agree that there is a great deal of manipulation going on but how do you keep it down and cover shorts at the same time? I still believe there is a great deal of shorting and tax loss selling going on and the volume has not reflected any covering yet (we're only .10 off the lows for the year).
If it pops it won't be until the last week of the year and the first week of next year. The cobi NDA filing was the last potential catalyst we're going to get here for a while, which really didn't help as too many biotech investors have given up on EXEL. It's nice to see Papa and Scangos still holding, but it would be even nicer to see some open market purchases by insiders.
Still long and strong, added a little yesterday, for the inevitable pop after tax loss selling stops. I'll be checking in occasionally until after the New Year.
Happy Holidays and a Happy New Year!
"Cobimetinib (GDC-0973, XL518) was discovered by Exelixis Inc. and is being developed in collaboration with Exelixis. Cobimetinib is also being investigated in combination with several investigational medicines, including an immunotherapy, in several tumor types such as non-small cell lung cancer, colorectal cancer, triple-negative breast cancer and melanoma."
Do you really believe Roche would allow anyone else to buy EXEL? Upgrades will be forthcoming shortly and short covering will commence forthwith.
To be replaced by head of small molecule drug discovery research unit.
I have no idea if this has any implications for EXEL, but the NDA filing for the vemurafenib/cobimentinb combo filing is supposed to be made before end of year according to Roche. Hopefully this will speed things along.
I know I'm not wilder but let me take a shot here.
NSCLC patients primarily experience resistance to erlotinib (Tarceva) within 8 to 12 months of first treatment. Combination therapy will probably be the most promising approach to this resistance. Cabo is one of the TKI's that is being tested in combination with erlotinib to ovecome the over expression of MET which seems to be implicated in the build up of resistance to erlotinib. On clinical trials.gov there have been no updates but in another web site I thought I saw a completion date of July 2015.
A positive outcome (w/PFS as the primary objective, & OS as secondary) would probably be very good for the share price since Genentech(Roche) pioneered erlotinib with OSI Pharmaceuticals (now owned by Astellas of Japan).
I hope that helps.
Your silence in the face of this latest failure speaks volumes. If you've had enough and your out, say so. If you're still hanging in there (as am I), let us know why.
Why am I hanging in there? Ignorance, stubbornness and hopefulness for myself and others suffering from cancer, all of which are not scientific, which is why it would be nice to hear from you guys and your valued scientific knowledge. Thanks in advance.
Zacks releases a PR with negative headline @1:29PM and Piper conference started at exactly 1:30 PM. I have never experienced such a blatant, deliberate and transparent MANIPULATION of any stock like this before. It's not just the shorts or the longs but it's amazing how these events (news releases, brokerage firm updates, holiday surprises etc.) all seem to be coordinated. I haven't bothered with the Piper feed, I can't imagine MMM has anything to add other than "please wait and see". Just sell the frigging company already.