I disagree. The company has done nothing wrong. Their strong multifaceted story has hardly changed. There is a simple hold on one trial for one early stage product and all HALO can do now is cooperate with the DMC and FDA and wait for answers. The timing is unfortunate for shareholders but I'm thinking our new CEO is a genius. She had the foresight and cajones to raise 100 million dollars at the peak just before this bubble deflated.
So you would de-emphasize the PEGPH20 program and use the capital to advance another program? Or would you just sit on it, lower expenses to administrative costs and await the growth of revenue from the programs further along? Unlike many companies with no income and little cash, HALO can do whatever makes sense. I think, when the FDA lifts it's hold, advancing PEGPH20 will make the most sense. The promise of this drug is enormous. This issue, clots, is routine and can be managed.
When I am not an administrator (often evaluating ROI and capital outlays) I am an ER doc. Nearly every day I see patients, I diagnosis a DVT or a PE. On many patients I admit, I start LMWH prophylaxis. This is routine. There is a way forward. This market response is a huge overreaction. I want the company to hold its head high and do the right thing. Ignore the market. Don't pander to emotional shareholders with BS. Deal with the FDA like you are Johnson and Johnson, evaluate your situation, and make your best moves with an eye on 2016.
Unless you are on margin, simply hang with the company. They hold good cards. And we might have more chances to lower our cost basis.