Sorry fredman, but I have to disagree with you on a few things. Seeing that the stock didn't bounce right back, all of those conspiracy theories can be laid to waste with a little DD. I did a 5 mins worth of digging and found this article: www.fool.com/investing/high-growth/2011/05/13/fda-advisory-panel-positive-shares-punished.aspx#commentsBoxAnchor
Here is an excerpt you might want to take note of:
Those insider buys are very tiny. Not the kind of insider buying you see right before things get better for a company. The CEO only added 13,000 shares to his now 898,912 share load. My calculator says that's barely a 1.5% increase in his holdings. The VP only bought $15K worth of shares himself. Again, nothing that sets off alarms on my scanner.
I trade FDA plays myself and don't see any reason to buy this stock other than to play the technicals bounce. With that being said, I do wish you the best of luck with it. Hopefully you bought the bottom and didn't hold all the way down from the top!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.