Dennis,
Sorry about the delay to your question, but the meeting info was actually from a while back, so I needed to double check. As it turns out, there is no presentation by ATIS, as there is truly no reason for a june 9 presentation right now. They are in a holding pattern at the moment, given the wait on the reinspection, and there is no point in presenting the same old thing. The company still expects that 30-60 day likelihood for reinspection from the date of the annual meeting of 5/20, but only the fda can say for sure when this will be. As of the moment there is no date yet known.
The stock price continues to be annoying, but this is the nature of the beast. Nothing has really changed in the fundamentals, but this company's stock continues to get institutional technical/momentum types clobbering it while they can, as there aren't a lot of investors jumping in right now to support the price at higher levels, even though there is even more significant support at 7.5 then at the low 8s(which is typically the case at the option strike prices...ie 5, 7.5, 10.....). The short % continues to roll upward, meaning eventually coverage will have to occur, although the hope for the guys doing this is to do it in an orderly manner and preserve their gains, likely getting out as best as possible over the next few weeks if at all monitoring fundamentally, or else they would be taking significant risk. The price could get knocked down even more, but I don't see there being much more downside risk...although possibly of course....without bad news(ie no reinspection scheduled in the near future, outward rejection by the fda, etc.). Also, I believe the business week article that was positive and got so many excited, even though generally not accurate in many areas, turned out to be a bummer for ATIS.....lots of people expected approval within weeks as a result, and it didn't happen, while ORG, also mentioned in that article, got that approval....affects the traders quite a bit, and spooks people from buying or sticking with ATIS, even though it has nothing to do with the long-term prospects of ORG or ATIS. Nevertheless, the potential gains for ATIS are tremendous at this point, although there may yet be days-weeks to get in at reasonable prices. The other question would involve how long it would take to get news from the fda after the reinspection, as if quickly and along with approval, should move upward fast, and likely along with upgrades not too far behind, imo, given the reasons for those following downgrading to begin with.
Okay, enough blabbering for the moment. Hope everyone is well out there and not getting themselves too worked up.
Regards,
Marshall |
