Keep your eye on this stock
Every molecule in an ADC requires a humanized antibody. These are difficult and expensive to make. The ECYT products use folic acid ( vitamin B9), a commercially available molecule that can be bought by the pound for a reasonable price. The sleeper improvement in going from 145 to 1456 is changing the linker to be more water soluble so the drug is eliminated by the kidneys not the liver. This is a good stock for people who like to gamble.
I think it's something like $33 or 18 billion. Big oil which is still making a profit would find that buying this company would save them billons in US taxes. Maybe the CVX rumor is actually true.
I believe that OPEC only has twelve members. It only takes a majority ( 7 )to call a meeting. There should be enough votes to do it. Sticking to new quotas is a more difficult matter.
I have worked in biotech (now retired) and I think that 1456 has the potential to be a blockbuster. However, nothing is sure.
Some OPEC members are in a lot worse shape then the US oil and gas producers.
OPEC will call an emergency meeting in Sept. and everyone will agree to very strict quotas. Russia will also cut production. Only US, GB and Norway have large oil production and private ownership.
The 14% NGL can't be hedged because no contracts exist for this mixture. This makes the Linn hedging picture a bit worse then just the oil and gas numbers project.
Hedgeye's Kevin Kaiser trying to get confirmation on chatter that CFO Kolja Rockov is facing financial difficulties and had to cancel an 8M house he was building.
My comment: Back in 2009 Aubrey McClendon the CEO of Chesapeake got $150 million in margin calls and all his stock was dumped on the market dropping the stock price very low. Maybe Line and LNCO are having the same thing happening. Also, when oil was still at $100 and the stock was still paying a good dividend it was very tempting to buy more stock on margin since the dividend more then paid the margin interest. Margin calls may be the reason the stock price decrease is worse for Linn then other oil companies.
The US may finally allow crude oil exports. If it happened the tankers will be going from the Gulf coast to the far East via the Panama canal. This could result in some additional business for NAT.