Whether it opens at $6 or $8 or $10 or $12, I suspect that will be the low trade for the day, based on the way other disappointments have traded recently. The market should be up 100 to 200 points tomorrow based on Greenspan's comments tonight, so that will help.
Although I am short the stock in line with my previous posts on this and the CHIR thread, I feel your pain.
So - time to make lemonade out of lemons. This is what the stock market pays you for, not to have fun.
I disagree with harkenman - Myotrophin works and is approvable. But the FDA is not going to overrule the advisory panel. Nor are patients going to get screwed. Myotrophin will be available under the tIND and the patient population will expand as CEPH and CHIR do another trial - lots of people, two years to completion (I was told 2.5 years today, at the worst). CEPH damaged themselves with the goofy call buying, but not a lot (500,000 free shares to the other side of the deal is only 2% dilution).
So I suggest taking arms against this sea of troubles. I hesitate to be more specfic - work out a strategy to take advantage of the likely stock pattern tomorrow, then do it again Monday morning for a couple of day opportunity. I suspect you get the drift - if anyone else reading this doesn't get the drift, then you shouldn't be doing this anyway :-)
Good luck, CEPH holders. Tomorrow I get to buy back my beloved Chiron! |
