Hey Ed, I have enthusiastically doubled
my shares in MAGN today, chart is breaking
out, and I was very pleased with recent
conference call. To be sure it is a very
speculative play, but I feel good about
bringing this microcap biotech stock to
the thread and recommending it. One to
check out I think, and I am way overdue to
bring a winner to this thread, so maybe today
is my day to pick a three-bagger. See MAGN
thread for details--it is still not my
largest position, 5k shares split between
me and my wife, which cost about 8k I think,
so that is half as big as my positions in
cnsi and ctii, about the same sized position
as my ntii. I am crazy, no fear, but I like
all these stocks short term (a couple months
to pay 50%) and long term (all potential ten
bagger material in five years).
Anyway, after hearing Magainin's Chief
Science Officer talk over the weekend. I would
estimate there is a better than 50/50 chance
that FDA will approve their antibiotic cream
for diabetic foot ulcers (I could not beleive
that it costs 40k/year to treat the unfortunate
people with this horrible condition). And if
pex is approved, I thing the stock will go to
$6 easy--because they will see 30M revenue a
year just for USA.
If pex is not approved, I see magn going back down
to the lows --$1 1/2, but you could still own it
long term for Squalamine. That is what I will do,
if MAGN turns out not to get approval, I will not
take my loss, and it, like so many in my portfolio,
will become long term holds for work which has many
years to develop (Squalamine is just entering phase
II or metastatic lung cancer in a few weeks, so it
will be several years before this one could bring
profits without pex.)
As always, good luck, do your own DD, and remember,
small cap biotech is the cheapest sector I could
find in the this market. If even a small amount
of the I-nut hype money shoshes over to this sector,
it will be a wild ride skyward for some of these
little companies--which have so much potential if
only investors would help them out and invest. |
