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To: Terry Maloney who wrote (162971)4/30/2002 9:23:35 AM
From: reaper  Read Replies (1) | Respond to of 436258
 
<<reaper, ICOS got their approvable letter this morning>>

Well, not exactly. The reports that I am reading show that the launch date has been delayed maybe 6-ish months and there is additional information requested. I frankly don't see that in the press release but I haven't read it closely and the stock is down.

Stock looks to be down 35% right now; that to me looks like an over-reaction to this news but given how weak the biotechs have been recently you can understand how people shoot first and ask later.

I will be covering/selling puts at the open and will probably buy some at $26 (if it stays there) to see if I can get a scalp on the long side.

Another good day.
Message 17192624

Cheers



To: Terry Maloney who wrote (162971)4/30/2002 5:41:35 PM
From: LLCF  Read Replies (1) | Respond to of 436258
 
Good biotech lesson here... an "approvable letter" is not one you want to receive :)

DAK

PS, and you NEVER want to hear this:

<< to Provide Additional Data to FDA >>


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