Hi loko, I opened up a new position today after watching it for several years from over $4 to $0.88. With the change in CEO and his comments, after reading the vibe here, I came back in with a first lot today at 1.20. Good to see you and some others are still loyally hanging on. GLTU
Also: "Foundation Medicine CEO Dr. Michael Pellini said various Medicare decision-makers suggested that other regional groups would likely follow Palmetto’s lead, so the company “spent two years educating Palmetto” about its test. But a draft proposal from the group that makes coverage decisions for Massachusetts, issued in October, does not bode well, the company said. An updated decision is expected soon.Pellini said that companies working in this field are not being told what kind of data the Medicare decision-makers or private insurers want to see, increasing their uncertainty. And without reimbursement, it’s on the companies to cover the cost of enough tests to show that testing leads to better outcomes for patients and, ideally, lower treatment costs.“We simply have to shoot in the dark and hope that one of the bullets hit the bullseye,” Pellini said.In the meantime, Foundation Medicine is not being reimbursed for tests performed on Medicare patients, accounting for about 30 percent of their testing. Private insurers pay $3,500 for Foundation’s leading test when they do cover the cost."
It ended well, one day doesn't make up but it's a start! Couldn't resist adding more shares today. I am looking for a run to S&P 2164-2180 range, with possible overshoot to 2100. At that point, take profits or ride it down hard is what my experts say.
Great, another $1.00 up and I'll be back to whole. As I was selling 13,000 shares at $3.33 last month, I wondered quietly "why not sell all?" But then said to myself "no, I'll wait for the rest of my shares to get to long term status and harvest this next year". I was thinking $7.00 at least, after all the effort, the head time, posting on this board, you know. I wasn't thinking about macro market risk, saw biospec's posts and while I considered the possibility, decided to trust the future and here I am! It would have been nice to have sold at $4.00, missed the waterfall drop in our share price and patiently wait to buy twice as many shares, but alas, I remain committed and beholden to my shares. I can re-do this, fortunately. Good man!
I'm going bigger here after dropping my shares of MRNS. I will come back to MRNS if Fragile X disappoints. i did add to this today and have high expectations for the name. Thanks for the post!
Hey, keep your posting of facts here, it's appreciated. Maybe the market is waking up, we'll see. Today was just getting partially back what we lost in the previous two days, February should be amazing!
From the looks of this chart, the Company has sure lived up to it's name. What I want to know is this, are there any longs here who believe this is a good buy at $6.00 and give me a long thesis to support an entry next week? One seventh of its share price high in less than 8 months, is there a last man standing that saw $45?
My buys since WM data release include lots at 1.70, 1.77, 1.79, and 1.94 Friday. It's only natural to feel your conviction and courage increasing when it's edging up as opposed to in free fall. Nice to see the bottom in place and correlation the the last time it visited $1.93 ever so briefly. NY, now I can resonate with your view. The Street featured it Friday in their "5 stocks heading for possible breakouts" article. Let's roll!
Still buying occasionally, four adds in last week, avg 1.84 for the new shares. It's likely tougher and longer getting back to where we were unless the biotech indexes and Etf's recover broadly. The sector is in rough shape. Not going anywhere.
Looks to me like we will have a recovery rally in here for the sector before retracing to new lows, should that happen. One cannot be sure, this market can surprise either direction.
Yes, biotech is in a bear market was among first sectors to reach that status. I have no advice other than to sell into strength, hold strong stocks like HZNP, but by trading when it rips, and buying when it dips you can lower your cost average and eventually make money.
UPDATED: Axovant routed after Pfizer flags failure of rival Alzheimer's drug
Source: Fierce Biotech article today
February 2, 2016 | By John Carroll
Pfizer ($PFE) has quietly shuttered a Phase II Alzheimer's drug study, noting the termination in a pipeline update released today with its annual numbers for 2015. And shares of Axovant ($AXON) tumbled 25% on the news as it faces fresh questions about the implications of the failure on a similar drug it has pushed into a Phase III trial.
According to clinicaltrials.gov, Pfizer--which has invested heavily in Alzheimer's R&D over the years--opted to end the study of PF-05212377 on Oct. 23 based on futility, or a conclusion that the drug would fail the key endpoint laid out for it. The move puts the spotlight on the drug's mechanism of action, raising fresh questions about the likely efficacy of other drugs that try to safeguard cognitive abilities by targeting the serotonin 6 receptor (5-HT6).
"We decided to terminate the Phase II study (B2081011) of our investigational program PF-05212377 following an External Data Monitoring Committee recommendation after a planned unblinded review of the interim efficacy data," noted a spokesperson for Pfizer in a response to a query from FierceBiotech. "We're currently evaluating next steps for this program, including plans for publishing the results of this trial."
I don't think history of our stock price is relevant on charts anymore since the very best stocks in biotech are cut down so far, the new levels will be revealed as the bear market takes hold. I sold all my recent share adds today netting my money back minus $86. Good luck.
Tau, tell me about the 70th event metrics you use to try to zero in on the timing. What is the likelihood of the FDA being OK with stopping the trial early out of compassion for those needing treatment that works?
We put in a new low for IBB today and along with it most bios got clobbered temporarily. Let's hope we can rally some to replenish our sanity and start to repair some of the damage to our vessel.
Not today but on January 28th I threw away some good stocks as well, MRNS at 5.50, it was briefly lower today but missed it. We all do it and yet for me today, I saw everything in the toilet led by the swoosh down in IBB and recognized it as a classic shakeout move. I did buy some shares in AVXL today (moving up nicely) with data release anticipated in next few weeks. HZNP got as low as 15.65 and is now 17.50.