First of all, let me verify that the cash position is in the $4 dollar range........actually, it is $4.75.
I have been an investor for several years now and have tried to keep in contact with the company........Until recently, I have had little success. Fortunately, that trend has changed in the past few days.............Unfortunately, it is a few days too late and many dollars too short.
This company made a drastic mistake in not communicating with the small investors. As of today, none of the selling has been by institutions or insiders. All of it has been by individual investors who bought on margin or are just panicked (with good reason).
In my conversations with Mrs. Foster in IR, I was respectful, but I didn't withold my criticism. It is my opinion that the few press releases up to this point have been lackluster at best. NBIX has failed to distinguish itself from the one-product wonder companies. Presently, it has 6 clinical trials in the pipeline and has plenty of cash to continue its research. The stock price obviously doesn't reflect this.
So as to not drag this out, I will say this. If you have held to this point, hang on. If more bail out now, the price will continue to slide........for no reason. I personally will continue to hang on. Whatever you decide to do.......good luck.
By the way, Mr. De Sousa continues as a consultant for the company so there is little fear that he will dump his 500,000 shares.
One more thing. Mrs. Foster is now following either this thread or the one on YAHOO. So, if you have anything to say and don't have time to call the company, say it either here or there. |
