I bought another 20K shares. done for now. expect a huge day tomorrow. People will hear bitcoin on a low float stock and the sky will be the limit. I will be in no hurry to sell.
tonights trading prices will look ridiculous compared to tomorrow's high. I think we see some sort of epic spike. just like bitcoin prices themselves.
this will go up. not many shares out there. half a million dollars in stock by a hedge fund is nothing to spark a tsunami. doesn't take much to squeeze it higher. I might add more today.
mgmt has been working with the FDA for a long time, the break through therapy language didn't come out of nowhere. I think it is that or accelerated approval. either one and the stock is back to $6 very fast. good risk/reward right here.
volatility will settle and we will retrace a lot of yesterday's loss. yesterday was purely about Adam F. that is not a sustainable drawdown. I'm just sitting being patient. Overall mkt is getting killed today too. That isn't helping, but it's just one day. PVCT will trade on its own. Just wait till next week to see much higher prices. Adam F effect will wear off. Barron's used to have the same short effect on stocks and a few days later they were right back where they started.
Zohydro is a black boxed drug. FDA does not allow PR announcing launch of black boxed drugs to general public. Would be considered "promotional". But look for them to confirm on the earnings release on Wednesday that zohydro is launched. that way it is not a general PR, but one directed at investors. those here calling for CEO to get out there and defend Zohydro don't understand the rules the company has to follow. I'm sure they would love to, but it is absolutely not allowed. And those looking to slam Zohydro know that the company can't defend itself right now.
The negative media will subside and news of product uptake will drip out. I'm long because I think this can get to $500M in sales with just marketing to certain chronic pain patients and that is a multi billion dollar valuation for ZGNX. There is demand for this product. Guys like jbcooper can confirm that. ER formulation is attractive too and not just the no acetaminophen. Taking twice daily is much better than 4+ times a day. this is just one more storm to ride towards a much higher price. I will be riding out storms for some time until we get to a much higher valuation that I think is inevitable.
Daddy, I'd be interested in knowing whether your pharamacist is seeing other prescriptions for Zohydro besides yours. The uptake of Zohydro will determine how high the stock gets near term. If you are back in there soon, please ask and report back. thanks!
jb, any feedback from your doc on the number of patients he has that are converting this month to Zohydro? Or even the % of patients he has that he thinks will convert?