It hasn't been good for biotech stocks even since Hillary tweeted she would control drug prices citing a few exception cases where abusive drug pricing was in plain sight. All the biotechs suffered collateral damages and all, big or small, have never recovered. Since her son-in-law is a hedge fund manager, I wonder he has ever involved with biotech sector at that point. With corruptions so rampant in WS and politics, one can never be sure the timing of certain statement which impacts the stock market and more importantly a certain sector. Small investors have little change to make profitable investment these days.
I didn't buy at the last raise, but did at the first one when Kirk also bought at $1. Kirk also bought at the second raise and this is what I meant that when the next raise comes, Kirk may lessen the negative impact by buying a bunch shares again. I don't think I am all over the place in my assumption. As a matter of fact, sfj's strategy of trading SYN shares makes a lot of sense, but I don't trade stocks, but buy and hold a period of time until it pends out. That's why I don't intend to buy at this level. It is that simple. For those who have bought at near $3 this doesn't sound good. I understand that. I have known this stock for a long time and learn the timing of buying for longer term. It is that simple. Good luck to all regardless your strategy in this investment.
I have nothing to gain or lose in merely stating my opinion. My timing may not be absolutely correct, but I did acquire 10,000 shares at $1 at the same time Kirk got a few million at that price as well. I had my first position in SYN at least four years ago and had been disappointed with the leadership in this co. The secondary will come because the CEO said so in an interview not too long ago and the cash level needs strengthening. Kirk may be able to come in to absorb the shares to lessen the negative impact like he did previously, but the market will react and drive down the share price. Riley has mentioned so many time in CC concerning partnership including the failed Trimesta, that he lost credibility. Just look at the action of the share price of late, you'll know. While SYN may have a bright future down the line, no one know when it will finally be successful. You can feel free to buy at this level, but not me. I believe I can re-establish my SYN position at $1.5 or lower. Indeed what has kept my interest in SYN is due to Kirk, even though many of his stocks are not doing that well such as ZIOP, FCSC and even his own XON. GLTY
Really? With the pending secondary hanging over its head, it will never move up over $2.5 even with a Wall Street rally and will move down to $1.5 or lower, once the secondary is announced. The cash is very low and CEO mentioned in an interview it needs to sell stocks to keep it going. These recent seemingly positive news on its trial serves the purpose to prop up the share price for the secondary. Unfortunately it was very short-lived event. I am waiting to pick up shares after its announcement on the secondary. At the time of the last secondary, I was able to pick up shares at $1 and netted good profit to have sold at $3.5 a year or so later. I intend to do the same with this stock. With backing of Kirk, we don't have to worry about its ultimate survival.. In fact Kirk bought millions of shares in the last secondary at $1.
I agree the earnings have little to do with the share price for such developmental biotech co. All we longs can expect for positive movement is the data late May as said by the earnings PR and another data read in the third quarter meaning in June? If any one of those proven positive, we'll be okay, even if we need a secondary for more funding. With positive data, partnership should be a possibility. Well. the next two months will be interesting for this stock for sure.
Earnings come out this morning and looks like well under expected. May be the Friday tanking was due to some knowing the poor earnings? I am like you holding shares well below current price. At this point, might as well for the data to see either positive data to propel price higher or goes down further with bad data. It looks like a lottery ticket now. GLTU
Go ahead and sell your shares if you want to. Nobody loses money by taking profit. This is a blockbuster type of drug, first in its class with off-label usage as well. I am sure you can sell it at over $50 next week.
What do you mean another nail from Adcom? I thought all left is for FDA's final review before approval will be given/denied. The agency remains the final huddle. Am I mistaken?
agree that this is a low volume stock which doesn't take much to either push it up or down. I like its fundamentals and its alliances with so many big pharmas. I added 4,000 shares today to my already pretty large position. Indeed this is a long term hold for big profit down the road.
With such positive sentiment expressed and I do share the same positive regard for PIRS. However, it can simply drop 10% in one day and followed the drop a couple days prior without news, other than the license deal which can't be that negative. Very puzzling indeed.