| | | Indeed, this will be a tough sell to Prasad & Co. Then again, it's gonna take some big balls to withdraw these therapies from patients. I think we see $10 again. I sold 3/4 of my position at $19, bought some back in the $15s, and will be averaging down from there if I am right. The semiconductor/AI sector, which seems to be about 90% of the market these days, is showing signs of rolling over on these absurd valuations, which unfortunately will take everything else with it.
Reinstatement of Elevidys is taking longer than I expected; guidance for flat revenue next quarter is a surprise. As for the PMOs, I was not at all surprised by the trial results. I have been dreading that readout. However, it would seem that Elevidys is expected to supplant those therapies anyway except in certain cases, most notably, non-ambulatory patients and others ineligible for gene therapy. As an investor, I am in no hurry to reinstate non-ambulatory to Elevidys' label. Too much risk. Unless of course those patients are demanding the drug. |
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