Brett,
Apparently there seemed to be only positive news about IMNX coming out of the conference, however, the the stock couldn't hold on to most of its early gains and seemed to finish on the weaker side. Not sure if this is just "selling on the news" type phenomenon or something else. Volume today was back to normal as well. I think there were definitely some high expectations for something big, as I noticed that the option premiums on the Nov 70s, 75s dropped significantly, even though the stock ended the day up.
There was also another drug for RA from a company called Centocor that was listed along with IMNX in a WSJ article, however, Centocor was down big today (9 big ones) as it seems that their drug has some major side effects, leading Merrill to issue a down grade.
Still holding, and hoping for the best.
Regards, Bret |
