Tried to buy 10 april30 calls on Friday not realizing that I had to apply for "level2" trading with my Scottrade account. I had this elaborate plan to exercise or sell some warrants to pay for the calls after the announcement on Tues. (seems like there would be plenty enough time). Being inexperienced and ignorant of the how all of this works has been frustrating. So much I need to learn. So I bought 50 more warrants. That was about the best I could do with the funds and time available. I'm sure I could have done better, but have accumulated 850 warrants and 95 shares over the last 4-5 months and feel pretty good about that.
I don't know very much about the approval process of an approved drug for other uses (assuming it will be approved for NASH). Is it even needed? So far, most of the projections of value (PPS) I've seen have been centered around NASH. In my opinion, I don't think GR-MD-02's usefulness will be limited to just NASH. We already have the melanoma study in the works. Remember that NASH is the second greatest cause of liver fibrosis and cirrhosis in the U.S. If GR-MD-02 is effective in treating alcoholic hepatitis and fibrosis/cirrhosis (number one cause), well the market for the drug may have just doubled. Efficacy has already been proven in animal studies (I don't know how many different species) but there may also be uses for treatment of fibrosis in veterinary medicine (I'm thinking mainly renal disease--very common in pets these days). I guess I'm pointing this out because I've been thinking a lot about when to "get out" of GALT. It would be tempting to me to take whatever profits present themselves early on but I'd be afraid of missing out on later potential. On the other hand, I don't know how a buyout would affect profits. I have NO experience in this. Is it generally better to wait for a buyout or sell just before? Seems like a tricky thing to judge.
Though I am envious of many of you with large positions I am also respectful of the insight that led you to it. So I would like to give a quick thanks to all of you on this forum. I follow a few other stocks on ihub (though I have since sold them to use the cash for GALT purchases) and this is by far the best for minimal silliness, and clear communication. Looking forward to the next few days. I figure if Chipotle stock can reach 600 and it's just a hip restaurant chain, why not a life-saving drug with the capacity to end so much suffering.
Best of luck to all of you!
