That's pretty typical of public companies. By that standard you could short everything.
That said the MM's are beating us longs to death. I wonder how low they're going to take this? They could take us anywhere they want. Sub 3 is certainly in play. Heck if they want 2 they can get that also.
Scary stock to be long. I am getting clobbered by this. Sucks I bought at 5.50 so I am dead until next year at the earliest, unless we get a bone from the FDA like a BTD or the like.
Don't like these terms in an excerpt from the filing. ACHN has to do a better job at negotiating deals going forward. Between this and the last secondary, somebody at ACHN has to learn how to become a better poker player.
I expect the stock to drop today in response to this unfortunately.
"Termination. If any applicable waiting periods under the HSR Act have not terminated or expired by August 31, 2015, either the Company or Janssen may terminate the Collaboration and License Agreement upon written notice to the other party on or after such date. Janssen may terminate the Collaboration and License Agreement upon sixty days written notice to the Company at any time prior to submission of the first application for marketing approval for a licensed product in any of the specified major market countries. Janssen may also terminate the Collaboration and License Agreement under specified circumstances relating to the safety or regulatory approvability of a licensed product. Either the Company or Janssen may terminate the Collaboration and License Agreement if the other party is in material breach of the agreement and fails to cure such breach within specified cure periods. Either the Company or Janssen may terminate the Collaboration and License Agreement in the event of specified insolvency events involving the other party. Upon any early termination, rights to the Company's licensed drug candidates will revert to the Company. "
What? I haven't sold a single share. I have sold calls against the position though, because I believe the stock will trade sideways for several months.
LOL you really have trouble with language. I was talking about the calls and overcoming the massive loss on the stock. Not my total portfolio. Perhaps you should get your mom to explain it to you.
LOL good one mac. Math is fine. It's your view of the horizon that requires adjustment.
Anyway this stock isn't going much of anywhere. Why are you still here? Daytrading this issue is a waste of time for the forseeable future.
It's going to be pretty much chockerblocked for awhile, so I am selling out of the money calls on the pops. By the end of the year I will be up about 20k based on the money I've made on my calls so far. That's one nice advantage to owning 29k shares and being in cash. I can wait. And I can make money while I wait.
How bout you bub? Can't do that on margin.
Be a crazy series of events if we halted again and opened at 15 soon. lol Although I have seen stranger things in biotech certainly.
They still have to meet several conditions per the PR. Tons of things can end this. I am certain they wrote in right to termination clauses for both sides.
Obviously the market views the resignation with some trepidation.
I like the science and I am in for the long haul. But I knew going in this would be a very risky and volatile proposition.
Nice news today about the addition of the executive from Cubist. Let's hope he works the same magic here.
Nothing to do with ethics. It has to do with the fact that a deal isn't done until it's signed sealed and delivered. Until then, if a better offer comes along, all bets are off.
I agree I think we are seeing a lot of emotion here. There are a lot of details to this deal. I don't think many understand it. Fear, uncertainty = knee jerk selling.