IMO you were too late, not too early. I think the stock ran from $4.50 to over $9 in July/early Aug because of the high odds of approval. That was 2-3 months prior to the Oct 14th date. Seems like some of these are changing slightly where it's safer to get in 4 months early assuming they have enough cash. VCEL may be in the same boat. It may keep running now and then not run later on like most of these plays do.
New Economy Portfolio Update..entered $EGLT position today ahead of an FDA Update.
Alert..entered $EGLT at $6.65 (5% Starter). Looks like the FDA should render a decision to the company in the next few weeks. Should hear Dec 14th as Oct 14th was the previous PDUFA date. 60 days from October is Dec 14th when FDA is expected to decide. FDA did not ask for "ANY" new or existing scientific information from the company. FDA is actively working on their label of Arymo. Company still expects a 1Q17 launch.
-From recent company presentation.."There is a pattern of approved abuse-deterrent products missing their PDUFA date and this product was likely to be in the same boat due to the complexities of the FDA process to approve opiods."
Company is heavily shorted and has a high institutional interest. Should see a nice spike if approved! The ADCOM was 18-1 in favor of approval.
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