Par for the course. Didn't expect any different than this. Agree with Tswenor that GALE at least tried but these guys aren't ready to grow a pair.
The other thing I would say is that I have SNGX ranked 2 out of 10 in my biotech analysis rating. GALE was a 3, so not much better. Call it anyway you'd like, but their "broad" portfolio is a ruse to me.
Brexit will have a minimal impact on dev stage biotechs in the US, unless the government intervenes and dumps more regulations on the banks.
This is for the people on this board who think clearly - base your current/future decisions on the non-Neuvax part of Galena's pipeline. Neuvax is toast, and stop drinking the drug-infested kool-aid. It's time to remove yourself from "cult" mode and get realistic.
I'm a basher but I'm not paid for it. Does that qualify?
If it makes you feel any better I didn't make that much. On the opposite side I had to worry about this drug actually working. And I had to pay a decent pct to borrow the shares. Shorting is not as rosy as it sounds and frankly I do not do it often.
In the very remote chance this were true, can you imagine the shareholder lawsuits lining up to pound GALE for mis-representing the public? Blind or no, it is their responsibility to represent the data.
They all present themselves as too good to be true. In this industry, it's just a huge hit or miss proposition and mostly miss.
You sound like you are stuck in a cabin in the middle of nowhere pondering your next psychological tirade.
Intelligent post. They are all huge gambles. The ratio for intelligent investment money is better than 100:1, but probably no better than 20:1.
Yeah, they mixed the data up, they crossed study arms, they drank too much, didn't get enough sleep, too much rain in the forecast, etc. etc. Folks, come to terms with the fact this product failed. That's it.
Investors were banking on Neuvax (breast cancer) to come through. GALE took an old and non-stat sig trial that showed there was a possibility and marketed it to the world that Neuvax will succeed. They did this for years. They canned their CEO for pushing too many of those buttons. They were able to get enough suckers to buy stock and back this drug like it was some cult. I give them credit for going for it though - they didn't sit back and steal people's money like this company does (although some may feel a bit differently about that).
Moral of the story - these companies are all major gambles. That's why I prefer to spread it around, and also to be extremely critical of their operations. I would rather talk myself out of a company that has potential then stay in a company that I don't have a good feeling about.
Sorry to hear that. All of these dev stage companies are selling you a bill of goods until something works. So regardless of what you think or read they are all #$%$ shoots. Perhaps consider spreading out your investments across 5-10 of these types of companies. Otherwise you have better odds with the roulette wheel.
Well, if ya listened to me and decided to short this puppy you'd be a happy camper today. Neuvax was a completely 100% hoax, but tell you what. GALE did a great job convincing y'all that it had teeth. Hats off to the GALE team for brilliantly disguising this fake drug. I think they even convinced themselves it had a shot.