This is biotech. Collect a basket of good companies and pray... :-)
There's bullet-proof support at around $10/share. To go through that, IMO, we'd need bad news in two of three programs. The issue first visited $10 last July, and, to my knowledge, MCDE's research efforts have advanced significantly since then. I look for periods like this where the sector takes a hit and where the premium paid for good research shrinks. For me, it's the time to relish the future. During this huge biotech hit, MCDE has only lost about 22%. I realize that "only" is tough to digest, sorry. But, for the chronic biotech junkie, that's not bad.
The JNJ and Pfizer projects appear on-track from what I've seen, but I don't have much of an inside view (almost none, actually.... maybe I'll go visit them, but it's a long trip..... a friend corresponds with Matt Hogan, ). Late last year, they expanded into additional research facilities, and increased capacity in the essential gene HTS effort. Burn remains under control.
Bacterial and fungal genetics are always a crap shoot, but I like the feel of this company. |
