Didn't you post a couple days ago that the data was well received and the market over-reacted?
Now your saying that Ganetespib (an Hsp90 drug) is doomed to fail.
Sound like a contradiction.
3-6 months in advance means October at the earliest using your March 2014 date.
After losing half of their market value in 4 days, I would think there is little interest at this point,
They don't need money soon, unless you don't believe management. They have enough cash to last into first half of 2014 (may be that's soon in your book).
Looks like I shouldn't have keep any shares at this point.
You said you covered at upper 4s and would wait for a dead cat bounce to re-initiate a short. Since there was no bounce and you didn't post your new short position, I'd say your full of sh..
Ramachandra didn't make anything but his salary for 6 weeks. He wasn't there long enough to be vested in his stock options.
I agree, the market in-hole has benefited from the central banks policies. I've got a positive return from my investment in SNTA, that's more than I can say for some of my other holdings over the years.
They stated that they were going to focus on Ganetespib as a combo drug so any mono therapy results will be meaningless unless they are excellent and the fall is a long way off
Too much bad PR out there now. Hopefully it stabilizes.
I've been in the stock for 3 years and was fortunate enough to get my initial investment back out. That said, it still stings taking a 40% haircut on "good' results.
Nope, SNTA is down over 40% since reporting positive phase II results.