LOOKS like the SHORTS knew it was coming!!!!!1
A Biotech Triple Catalyst Play
By: Mike Havrilla at www.mikehav.com/blog.html & www.mikehav.com
Disclosures: None
As 2007 winds down, investors in Genitope (GTOP) are keyed up for the final results of its experimental, personalized cancer immunotherapy treatment MyVax in the treatment of B-cell non-Hodgkin’s lymphoma. Results are expected some time this month, so the wait should not be much longer in what has been a long ride for the Company and its investors as two previously planned interim analyses failed to halt the trial early and demonstrate convincing effectiveness for MyVax. The most recent interim analysis of July 2006 was especially disheartening as the Company had expected to achieve statistical significance at that point for MyVax that would have allowed for an early end to the trial, but instead resulted in a tanking stock price from the $6 range to around $2 per share. Shares have since recovered, most recently trading around $3.50 per share with increasing volumes and volatility in anticipation of the make-or-break MyVax results due any day now. The most recent tally of short interest reveals a brazenly bearish stance with just over 11 million shares held short, which equates to about 26% of all shares outstanding and about 39% of the float. The opinion of analysts following the stock also varies widely from a low target of just $1 to a high of $17.50 per share.
