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Biotech / Medical : Biotech Valuation
CRSP 56.38-9.0%3:59 PM EST
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To: Harold Engstrom who wrote (7628)12/28/2002 7:27:35 PM
From: nigel bates  Read Replies (1) of 52153
 
It is odd: the stock traded higher when there was real uncertainty about ODAC outcome. The outcome was extremely favorable to CRXA and the stock trades lower. I had thought that the market had already bet outcome would be negative...

Take a look at how Vernalis traded after the approval of Frova. Sometimes the market offers a bargain which you shouldn't question too much.

(edit)

Admittedly there was a timelag before it really hit the bargain basement, but it was one of my few seriously profitable bios of 2002.
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