Big fan of the writings of The Huskadoo but I think he is reaching on the AZN reporting as a "kaboom" for BCRX.
The thought process is that there are rumblings about safety concerns with their gout drug (it was RDEA's drug and the main competition to Biocryst's Ulodesine – AZN bought RDEA a bit over a year ago).
Husky opines that they may report more fully on the safety concerns from the recent RDEA/Gout Trial and that they may even junk it which will turn all eyes to Ulodesine.
Today will be interesting. There will be some power-playas behind all that short interest working their dark magic to bring her down. Lets see if they prevail.
Up over 20% on seemingly no news today (huge volume too), so some of you are probably having a good day.
"$13 would be enough to kick off the bidding "
Surely you don't believe that, eh? It has been hovering around that (currently just below) for weeks now... a takeover of a biotech with a strong future, with next to zero premium? Not likely.
Don't fret it Huskadoo, this day to day stuff is irrelevant. Up 50 cents... down 70 cents is all for nought when there are such big events waiting in the wings. I hate to say it but the worst Ebola outbreak ever is building a fire under 4430 and the next HAE trial will be starting soon. P could be approved any day and the next pre-clinical candidate molecules are due to be announced any day. Of course, all this pales to the morning we wake up to see a $28 bid for the whole kit and kaboodle. Keep the faith. See ya at Map's golf tourney in Vegas (this summer or fall?).
Today is a bit strange after the week we have had (which surprised me in itself... I thought we were going to shoot past $13). Volume is weak but we will end up about the same as the last couple of days in that respect. 6% is a fairly significant pop on no news, eh? I reckon we will see a 3 million share volume day before we see the "$40 bid" (tho I predict $28), so it doesn't look like that is on the cards for Monday.
Hmmm... Not a lot of bids lining up over $13. This could be sticky right here (until the bigs who have been accumulating recently kick it in again).
On a different note, there could easily be a short term spike if the "out of control" Ebola sweeping through several African countries gets back into the headlines over here.
Gotta love this action. The June chart is a sight to behold. Also, average daily volume for the last month is well north of a million ( even with excluding Friday's 10 mill day) compared to about half a mill earlier in the year. Now we a re knocking on 52-week and 5-year highs. Next stop $17, then buy-out.
I too am very interested as to who Friday's big buyer(s) and seller(s) was/were.
As an aside, where do you see Institutional Ownership numbers? At NASDAQ it is listed at 62% 'tutes ownership. I was wondering as to the source of the 85% number you mentioned. (even 62% is nice)
I guess there are folks who definitely do not want to be short over the weekend. (or maybe Map's FDA list is really some kind of approval indicator after all).
Looks like we will be closing at the HOD which is nice (and close to $13 after all).
Hey Map, when you spoke to Rob about up-coming news etc to move the stock, did Ulodesine come up?
I can't find your post where you referenced the conversation (where he said that in fact there are plenty of things to talk about over the rest of the year).