Simple fact is: Market priced in a complete rejection with no chance for approval. This is a CRL that shows the FDA is willing to work with ARNA to get the drug approved. This stock is going higher and this is good news.
Look this stock was $8.00 on pure hopes that the drug looked good. At $3.50 it was pricing in the negative news about rat trials. At $1.65 this stock priced in a completely failed drug with no hopes of passing FDA approval EVER!
If I can get anymore stock below $2.00 I will be buying big because I think this drug will be fully approved over the next 6 months.
Spin it anyway you like boys but we are going higher. Just the opinion of an ex-wall street trader for over 10 years...RON
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