I hate it when I'm right..
CNCT meltdown yesterday on the scleroderma results- yeow, this is a TOUGH crowd. I was expecting a drop based on possible side effects but this was, well , overdone? So I was wrong for the right reasons or right for the wrong reasons, anyway, made money, dodged a BIG bullet.
CNCT does have 80 MM in cash, rich friends up the peninsula (read:DNA)two FDA approved corticosteroids coming to market. So, doing the math, about $3 a share cash, a possible $5 a share of revenue potential plus the whole pipeline at bubkis.
And relaxin hasn't found it's legs yet- scleroderma was a tough indication from the start, better targets to be had (note I can say this with the benefit of 20/20 hindsight)but here we are. 5 and a half bucks for what I think (and others-see BW) is at least 10 bucks of value. Its not 25, we know that much.
Anyway, imnvho, 2 or 3 bagger candidate for the patient. Hey, H&Q is not that far off, and you know all will be forgiven then anyway. They were the H&Q darlin' last year. So to add to my beaten and bruised GLIA collection, CNCT at 5-5.5.
Do your own calcs and DD of course. You wanna be sure to have some money for XMAS.
Sincerely,
RWR |
