well i've seen this happen with other companies that failed an fda vote/approval, and the pps goes back to about 65-75% of original value within a couple of days...and then you can just flip a coin on whether it keeps dropping or heads north. i dont usually stick around long enough to find out.
to me it looks like, besides today's setback, ctic is a good company. if it drops to .40 i'm in.
Today i was long (entry over a year ago at pps 0.06)and conviced that Pix will pass the panel. When i saw that the panel voted 9 vs. 0 against Pix all i have in my mind was an exit point over 0.40$.
I will try to be onest. Reasons why i had left the CTIC train:
1. I looked back on DNDN. The first time in 2007 the Advisory Committee voted 17 to 0 in favor of the safety of PROVENGE in response to the question and 13 to 4 in favor of the efficacy question. ... few weeks later the FDA has requested additional clinical data in support of the efficacy claim contained in the BLA. The pps went down from 19$ to 6$ ... then flat for 2 years!! Link ( http://www.reuters.com/finance/stocks/keyDevelopments?symbol=DNDN.O&pn=4 )
2. I was scared to death of the shareholders meeting on 9.april 2010 where the 1. point says: "to approve an amendment to the Company’s amended and restated articles of incorporation to increase the total number of authorized shares from 810,000,000 to 1,210,000,000 and to increase the total number of authorized shares of common stock from 800,000,000 to 1,200,000,000; and" Link ( http://www.celltherapeutics.com/pdf/04-09-10_proxy.pdf )
For this 2 reasons i left CTIC today.
Good luck
Loonley Tunes
Before you buy something do a good DD and make your own conclusions. My post express only my oppinion.
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