It's pretty normal. Almost every day there's some bio, #$%$ or not, that's run up real hard and dropped just as hard.
Adam Feuerstein's tweet this morning:
Adam Feuerstein Verified account @adamfeuerstein 2h2 hours ago
Translating today’s $CYTR aldoxorubicn GBM PR for you:
Results bad, uninterpretable at best, but we paid group of docs to recommend ph3.
Plus, on top of it you have Matthew Herper, Forbes science and medicine reporter, who has 60k followers, liking Feuerstein's post. That sure doesn't help.
The dude has sway. If it can't make moves on positive news something is wrong. Management's reputation continues to kill the potential here, imo.
Aldoxorubicin Continues To Demonstrate Positive Clinical Activity In Phase 2 Glioblastoma Trial
OVERALL SURVIVAL NOT YET REACHED; 57% OF PATIENTS CONTINUE TO BE FOLLOWED
CYTRX PLANS TO DISCUSS PIVOTAL TRIAL DESIGN WITH THE FDA
Just like we don't care about your ridiculous rumours.
Or it could just be increasing volume from shorts starting to cover. I don't buy the JNJ rumour.
I think most have him on ignore. He's been on my ignore since I arrived on the board. He's no different than Avi Morax.
that the stock looks like it's about to break out and there are a bunch of new faces on the board screaming about the company being #$%$ and going nowhere. Nervous shorts can't be any more obvious...
Eagerly waiting the day when this starts making reliable moves to the upside rather than the downside.
from a technical perspective. If they were to issue some good news early next week would be a great time to do it to couple it with the chart looking nice. I'm holding shares from $4, which was looking good right before they went and completed that stupidly low offering. Hoping to see a nice move back up to $4.
Analysts are only reiterating what the insiders know. Just look at the insider buys this past year. I continue to load up under $7 and will hold for the big move.
I'd expect the news to be nullified just based on the fact that news in the past two years has been nullified. Sell the pops.