VSTM does not look like a good short play. It has $250 million or so cash with a market cap of only $113 million. It looks to be priced below current liquidation value because of large short interest at 25% of float. However before last report short interest was 36%. One would think the the remaining shorts will start buying to cover at these prices. VSTM has an attractive credit line AND an approved drug. The label black box AEs are being shown to be managed by dosing in the new data from the study. Plus the ongoing trials will likely expand the indications to new indications. It may not be the rocket ship bio trade some look for but downside risk is now fully priced in and upside potential is not. If the AEs can be managed and the ongoing trials expand the indications this could be an attractive BO target or attract favorable partnerships. Otherwise it could just slowly climb as the drug becomes more accepted by Oncologists. But I see little risk of a major slide as with most Bios as trial fail or stock offerings are announced. Looks to be a low risk play for the clinical trials as a drug is much easier to gain approval for a new indication once approved for another. I am accumulating for a long term hold.
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