A340/others, your comments/insight appreciated...
Hi all, this is my maiden post here. I have been long BOCX since last year and accumulated most of my stake around the 25c level so the damage so far has been more of the loss-of-profit type than actual loss incurred.
I invested 'cos I liked the story and thought (and still do) that the tech has a lot of merit and potential. Obviously, it has been very disappointing to say the least to see what has happened to the share-price since last April. Whilst I put the blame largely at the door of unscrupulous shorters and the effects of aggressive spamming, I must admit that certain previous disclosures by the company may have been slightly over-zealous and prompted the FDA/SEC to take the action they did...with the unfortunate repercussions suffered by us investors.
The question now is : is this a classic buying opportunity staring us in the face or could there be yet more fall-out to follow? I draw a lot of comfort from the fact that there have been no class action lawsuits in the wake of the SEC action as has happened recently with other biotechs ( take a look at VAPH and BPUR for instance). But does this mean they might not follow in future? In the cases mentioned above, they were instantaneous - occurring in days - so the BOCX situation must be much more encouraging, I suppose? Also, we can't be sure that the SEC is done - even if they're satisfied with the resultant re-wording of past claims etc they won't say anything as they are not obliged to issue any statement ( which I think is most unfair by the way). So where does that leave us?
I would genuinely be interested in fellow investors' views as I'd like to be able to assess the current risk as best as possible. Thanks in advance to anybody who responds - I'd love nothing more than to have a proper discussion with like-minded investors.
Merovingian
