Tom,
Nothing to get worried about. If I had more cash, I'd buy more now. The volume hasn't been too high. By the way, which insider sold - just curious...
I've seen the stock move around over the years. Real news - pertaining to the NDA or new drug applications should move the market. Impatient investors are probably shifting into the other sectors of the market that are moving today. If you look at the biotech/medical sector today, and this past week, it has not been too strong, so why should Magainin, with no news, do anything? Today, Magainin was up most of the day, and fell in some of the last trades. Nothing that alarms me. I was holding the stock years ago when it shot up to 18 and then died with the phase 3 debacle with the impetigo tests. I didn't sell any at 18 and I probably won't sell any Magainin for another 3-4 years, unless circumstances force me to. The way I figure it, we all must take our chances to make it big somehow. The only way that I can retire early is if one of stocks makes it big. The best candidate is Magainin. If it makes it, it'll make it real big.
I have confidence in the founder, Michael Zaslof. I knew him years ago, when he lived in our area and worked at the NIH. I think his discovery of Magainins has revolutionized medicine. He is an honest scientist who genuinely is dedicated to saving lives. I only questioned his business acumen. He is now surrounded with brilliant and competent people to run the company.
If you are a short term investor, then you may want to ride the summer wave. Biotechs may move this summer, including Magainin. Or you may want to ride the waves, buy low, build a position.
Stay with me for a few years, and we may hopefully have some nice reminiscing over our good fortune with magainin.
Good Luck,
Shep |
