Biotech Values

[Jonathan Robinson]

IDEV

Hard to tell honestly why it was down hard earlier. My guess is sell the news. The Sept 7.50 calls (which I am short through covered calls) pricing was was very very firm with modest activity last week - so someone seemed to know news was coming. And when the result was not what was expected (stock-wise), I presume they got selling.

But this approval was critical given the cash infusion it provides for milestones. IDEV needed the money - still have to do a financing soon and with all approval news out for a while it may come sooner than later.

Jon