Many biotechs do go down after seconday offerings, not by the magic of new money coming to finance the enterprise, but by different types of misshaps, check well capitalized companies like RGRN, ALLP, XOMA, CEPH, all of them had bad news coming after their secondary offers, flunking research studies, lack of FDA approval or the likes.
Aviron is a company with a good product that is coming, with a good type III trial and FDA approval process to start in the future.
I will compare AVIR to IMNX situation, not ZONA. I will not expect the price to go to $5. The new holders just bought in at or around $27 I do not think they will abandon the stock just for any small reason. I do think of it as a parachute, anyway short term most people agree it is a ahead of itself, long term, and there are long term holders in the market, I do think will be above current levels.
Personally, just back from vacation and looking at the situation. No positions at the moment. |
