According to the NASDAQ site, PTBI's institutional ownership is at 28%. I wouldn't consider that heavy.
That said, nice call of PTBI. Never would have dreamed on a stock doubling on a statement of ownership. Crazy times.
PTBI not looking too good now. What a difference a week makes in biotech.
Bought AVXL at 0.285. We'll see what happens.
I still have some shares. So ouch. But I knew this was a lottery ticket at best.
Good lesson for retailers who think of nothing investing in these high risk stocks.
His motive is CPRX drug isn't new and expensive.
"3,4 Dap is not FDA approved but it's been widely recognized as an effective treatment for LEMS for more than 20 years. Doctors treating the small numbers of LEMS patients in the U.S.can obtain inexpensive 3,4 Dap from compounding pharmacies. Jacobus Pharma gives away 3,4 Dap for free to patients through an ongoing compassionate-use program."
"Firdapse is not a new treatment for LEMS because the active ingredient is 3,4 Dap. Catalyst bought the U.S. rights to Firdapse from BioMarin Pharmaceuticals (BMRN - Get Report), which tries to sell the drug in Europe but not very successfully because doctors there refused to prescribe an overpriced copy of an older, cheaper and reliable drug. Biomarin jettisoned U.S. rights to Firdapse because its reputation took a beating in Europe.
Catalyst hasn't disclosed pricing plans for Firdapse if approved in the U.S., but it's expected the drug will cost more than $60,000 to $80,000 per year. That's significantly higher than the current cost of the equivalent 3,4 Dap available to LEMS patients in the U.S. today."