Brutal IPO day for sure for this stock. Down over 17%?? Wow. I have never seen a brutal IPO on a opening day. Did they price it aggressively? Who sold the stock and why? Did they benefit any by selling on the opening day? Why would they sell below the IPO price?? Got nervous?? I am puzzled. I bought at 12.15 near the end of the day thinking I was smart. But even that move looks disaster if this continues to go down on Monday. The underwriters have option to buy 1.1 million additional stock at IPO price. May be they should start buying in the open market to stabilize the price. This needs to go up 10% Monday even to get close to $13. Wow. Any insight reply would help me. Thanks!
From a company presentation in early May, they forecast $120 mil peak sales without differentiated label, and $420 peak sales with diff label. so FDA has to approve and give the differentiated label first, which is not given. 2) The co also predicted 85 to 90% Cr versus the 65% CR for comparator. But the results are 64.7% and 56.x%. Huge drop in the CR exceptions even though it passed the statistical significance by a hairline.