The stock is down over 21% since 4/9. Based on all the other casino stocks expect another 5 - 10% decline tomorrow when they miss and they will miss. The positive is the same as the negative, the opening of the new casino. The positive is the open and at least the expected number of tables. The negative, the open with below or no gaming tables. Macau is going to shoot themselves in the foot with all their constraints, ie smoking bans, table allocations, reduced number of tourists. In a perverse way I hope they adopt everything and everyone stops going and the country plunges into a depression. Bottom line, don't buy here but wait till that decision is made. Keeping my shares as they are well under water but miracles do happen.
Only issue I heard was the length of the studies, not looking for anything until the earliest 2017 for possible approval. Cash on hand to cover +20 months and any milestone payments will extend that and there will be some.
Placed an order to buy at 5.50, watched it drop to 5.51 expecting to buy and it went up and never covered.
I agree she's clueless, HOWEVER, the call was to sell into the strength on Fri and in 2 trading days we're down 9%
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.
Not IMO, but anything is possible. Since I posted, in 7 min, 10% additional float turned over at OREX! Now over 25%, they had 41% of the float short + they are getting squeezed.
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.