Replies to post #251600 on Biotech Values

[WorstLuck]

RVNC

FWIW, I think the selling has gone a bit too far. But that doesn't mean it can't go lower. Q1 sales are probably priced in. Q2 will be interesting. Early CD sales may be informative, or not. I feel no rush to put on a position for the long term. Buying downtrends isn't what I want to do.

Q1 was kind of in the ballpark of what I was expecting, not knowing how the coupon program was going to play. Q2 is not make-or-break but you might as well treat it that way since the street is long past the benefit-of-doubt stage.

Price has gotten cheap enough that the common has become a leap option with no expiration, but at this point it's still a speculative play rather than a "value" play. Seeing the right kind of progress at least in Q2 (but preferably over at least two consecutive Q's like I have often said) could start to make it look more like a "value" play.