Getting close but not in the buy range yet. I'd wait.
I think that if they drop to $2 per share, abandon DepoCyt (a money burner), stop the risky morphine program (a looser, trust me), continue or re-start (who knows what they're doing) programs that are doable or make sense start (local anesthetic, antibiotic, etc.), it's a good (long) investment. The DEPO technology has a real potential, and it is quite unique in the injectable field, compared to Alza and others.
I guess they'll have a shareholder's meeting and there's hope for change. If the shareholders, however, don't get rid of the top managers who screw up this stock (i.e.,officers with technical expertise and those directors that can comprehend technical and professional challenges of drug development), they have no chance. If no dramatic change in management occurs, I recommend you sell everything (if haven't done it yet) real quick. |
