I did say *almost* religously.
I started buying at ~$8.00 in September and October (?) but bought the bulk of my shares much more recently. I disobeyed my rule because the big drop was obviously the result of one rather ill-informed and ill-mannered hedgie.
I've disobeyed my rule three times in the past 1.5 years. Once with YMI (which was a very good idea) and once with POTP (bad idea). For the life of me, I can't remember why I liked POTP.
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That was most certainly not a biotech pick list. I wouldn't buy anything on it. I was just saying that if I had to buy, it would be either NBIX or AVNR.
I do have three ideas that I'm working on...we'll see what happens.
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Regarding RPRX: the company has estimated that it will require $50 M to get all 3 indications through to submitted NDA. There are several factors to consider:
1) Will the Androxal program be sold ex-US, and if so will it attenuate the need for cash?
2) When will RPRX sell the Proellex programs?
3) Burn ex-clinical trials is extremely low. Depending on how their contract is structured with their CRO, they may very well be able to avoid raising cash long enough to sell Androxal and/or until after the March results.
I have very little doubt that there's significant acquisition interest out there, but as I've said elsewhere I think the only thing that's standing in the way of an acquisition tomorrow is management. They're going for a super home run. I'd personally prefer to skip the risk and dilution and take $250 or $300 M. Pocket change for big pharma. In fact, Pfizer could buy 52 RPRXs at that price.
Anyway, they're not going to drop a $50 M bomb on us all at once. Instead, they'll raise money in a stepwise manner.
And PS: another insider buy at RPRX in the high 11's.
