Unfortunately that was before the BS press release by OREX which created a massive short squeeze. We don't know how many shorts were started once the law suits started flying. Hope they start using up their cash now on legal fees and SEC/FDA issues. A secondary will be coming for OREX sooner than expected.
Well apparently the release of that data was completely unexpected by the FDA so now they are being forced into a second study which will be completed when???? Almost the entire float changed today on a premature release by the company and thestreet and Jim's prodigal son AF. Crooks swim in the same waters.
Watch what happens over the next few weeks.
Did you see the sample size? That could evaporate just as quickly as more studies evolve. B may be even more efficacious than C once the studies are complete on both. This isn't a sprint. That move was partially due to the report and majorly due to the squeeze. I'm a realist + I would be lying if I said I was thrilled about the execs here or their partner, they both stink. That being said, they do have a very promising pipe. The extension that Orex got will happen with B once they get approval for smoking cessation. Look at the whole picture not just a snap shot.
The OREX move is what we have been waiting for here, a SHORT squeeze. It has nothing to do with anything about either company. OREX is a one trick pony + that market cap is based on 1 drug with no pipe. What was less than stellar earnings here started the OREX train moving with that dolt AF touting the end of the line for B. The vol here is muted for lousy guidance, thanks Jack, + OREX is accelerating as shorts try to exit in a panic, over 15% of the float already. It will take a couple of days for the dust to settle + OREX will move lower as a 1BB cap for 1 drug with meager sales is totally unwarranted and no pipe.
IMHO ARNA will announce another partner or 2 before the end of the year for some of the pipe and take in the needed cash flow to prevent another offering. The brokers handling the shelf for ARNA at 4.81 didn't give Jack cash for nothing, there is something brewing that they were able to sell those shares. As I've stated in the past we have a lousy partner that has screwed the pooch + prevented a better trajectory for B.