CMTR-CHEMTRAK FDA OK Message Board

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Biotech / Medical : CMTR-CHEMTRAK FDA OK

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To: Larry Hartman who wrote (119)	12/5/1996 8:09:00 PM
From: DeadHead	of 1172

I think some concrete news on the Astra-Merck deal could very well cause the stock price to spike the way it did. I've been a holder of the stock for over two years and have seen it spike up under similar circumstances. Take last year at this time. It was well known that CMTR had submitted their H. Pylori test to the FDA, that it was likely to be approved, and that they had a distribution agreement with Astra-Merck. But the stock still dipped below 7/8 (at which I was an eager buyer of 2500 shares). When the news of the approval came out a few months later, the stock climbed above 6. We're not talking about drugs here; tests such as these are very likely to obtain FDA approval, so a 600+% spread under these circumstances is overblown. You can ask if the price was too low at 7/8 or too high at 6. But after hitting 6, it quickly dropped off to 5, then hovered around 4, then slowly drifted down to its current levels. Why? No news. Present company excluded, it appears that most CMTR investors are a very fickle bunch. Buying when there's news, and selling when there's no news.

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