And the expected decline by shorts who will do well until the 48 to 52 range
Encouraging news today. I couldn't say approval of A is a lock but I think with accommodative FDA the risk/reward is favorable. Add in institutional support ( 94%) and unmet medical need ( no other FXA reversal agents) , odds seem good. I have invested in much riskier bets than PTLA.
Resubmission accepted as of today !
SOUTH SAN FRANCISCO, Calif., Aug. 15, 2017 (GLOBE NEWSWIRE) -- Portola Pharmaceuticals Inc.® (PTLA) today announced that the U.S. Food and Drug Administration (FDA) has found its resubmitted Biologics License Application (BLA) for AndexXa® (andexanet alfa) to be acceptable for review, with an action due date of February 2, 2018.
Active Trader Pro shows 1075 Sept 18 calls SP 65 executed today at a price of 0.88. That's a lot of calls, and yet we don't know any catalysts till 2/18 that could justify this trade. May be we have some expert option traders, who could shade some light on it?
@Macugen. Interesting thesis. 1. Where does approval of A fit in? Or do you think it is already priced in? 2.TSRO inflated value resulted from buy-out rumors ( possibly planted) 3. CLVS price drop possibly due to crowded drug space 4. PTLA'a drug A will be unique & only FXA reversal agent. Does this not change the equation? 5. Following A approval PTLA may look more like NBIX (Ingrezza) which pulled back once clear they were going it alone. What happens if PTLA takes opposite route & floats idea they are for sale? Can you suggest buy-out price for approved B & A or do you think PTLA will go it alone?
Dave- 8/17/17 is FDA decision date regarding if they accept resubmission application for drug A.
Sold some shares... waiting to buy back under 52
PORTOLA, is no snapchat
I'm a bit surprised by the tepid market response to today's news on the resubmit of the BLA. long time investors and savants please advise. Also
Put buyers get crushed all the time, this time will be no different.
only bio on my screen which is red today. Even the IBB is plenty green somebody, (goldman, citi, credit swiss cheese) playin games with PPS ??? Hmmmmmmm
Hoping lots of you guys out there in cyberspace got some shares yesterday in the $55 range. If not, don't fret. I think any shares purchased below 60 will be a wise investment.
. The resubmission includes a supplemental information, primarily related to the analytics and manufacturing, and this is as requested by the FDA in a complete response letter issued to Portola last year. We also included in this submission additional data from ANNEXA-4, which is our ongoing study in patients with Factor Xa inhibitor-related bleeding. We now anticipate the FDA will make a decision on the acceptability of the BLA by August 17. Sell on the fact that they have not made money on their first drug that was in the Quarter 1 WEEK !! Silly !! If the second gets approved next week you will be HIP SAWED !! Stay the course.
Portola is going to have 2 drugs in both US and Europe by early 2018, not sure how that can be bad news
This is a long term win. Been in this business a long time. Anyone selling at this point is just really dumb.
Jacosa here. Couple things that seem timely: 1) It isn't the biggest deal in the world whether the A reconsideration is given an upper limit of 2 or 6 months. FDA acts when they feel like it. I've seen lots of decisions come out more than a month earlier than the statutory date, and a few delayed by up to a month. 2) Both A and B have $billion+ a year sales potential. The usual guesstimate of value for the monopoly on a drug is 5x peak annual sales (I once did the arithmetic: with reasonable assumptions about profit margin, length of monopoly, adoption curve, interest rates, etc, that is generally in the ballpark of NPV of the amount the drug will sell during the monopoly period). So with a skeptical guess of $1.5bln peak annual sales for the 2 drugs, Portola owns an intellectual property estate worth twice its market capitalization.
this stock ends up tomorrow
PTLA is going to be range bound until the market finds out how much management will price the capital raise. They should have done it when the stock was at mid 60s, now they are in a conundrum.
"Earnings report for a biotech just coming out of clinical trails with barely a drug on the market isn't relevant"
"Exactly what in it is specifically not a good result? Surely, no one is looking at "earnings" or loss in this report. I would be more concerned with cash and upcoming catalyst. That's my point"