Palatin Technologies Inc. (PTN)

[sparky99]

I play biotechs a lot, so I do have experience. In this case, there really were only two options for the runup, given what we've seen over the past several weeks: It was going to run like it did ahead of an offering (they only had cash till December end), or it was going to run because a partnership deal was in the offing.

Though I called it, I cannot say that I actually sold any shares and took advantage of the runup ahead of the offering. That was dumb in hindsight, but I am holding this long anyway, so I am not all that worried about this offering - it was going to have to be done.

I will probably add more on the drop this morning ... the info in the filing about potential market is confirmation of what many of us had been prognosticating, etc., and that is excellent news. If we get to late February without a partnership, and this starts to run again, I will probably sell off a bit - because another offering would be coming based on the timetable laid out here (cash till March 2017.)

But bottomline, these no-product-in-market biotechs will almost always see a big run before an offering that is priced well below the most recent highs ... keep an eye on them. :)