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I noticed that LGND is reporting positive results this evening. While I have managed to get clobbered by AMLN and CNSI, I remain positive on biotechs. For all the misery of suffering through the release of Phase 3 data, I am surprised by the lack of respect due to biotechs reporting successful trials, e.g., MEDI, AVIR, CNTO, CNCT, CORR, IDPH, AGPH, DEPO, PGNS, etc. What press I've recently read appear to believe that biotechs court only failure. I don't know when the proverbial "street" will embrace biotechs again. However, with the blizzard of bio/med conferences begining in September, I would prefer not to be on the short side. For low priced "adventure" I've been following: AVGN, ARIA, CVAS, CTII, and TRGA, all in the <$6 bin. |
