I admit i got caught up in the moment - and yes i have to chill out. After reviewing, I think I was hoping for the home run and therefore was left dissatisfied. However, after reading it again now, I feel better. Bottomline, the question is whether it will be approved. It met its primary endpoint and when you read the conclusion (below), it seems they are pretty confident that it will become a treatment option – “R will provide a new option for pts with this life-threatening disease.”
“Conclusions: This randomized trial of ridaforolimus met the primary endpoint of improved PFS in pts with metastatic soft-tissue or bone sarcomas to maintain benefit from prior standard CT. The rapid progression of metastatic sarcomas demonstrates the aggressive nature of these malignancies, and maintenance therapy with R will provide a new option for pts with this life-threatening disease.“
As to selling, I had bought shares at $9.00 anticipating a pop. If we happen to trade above $9.00 tomorrow, I will likely sell those shares, because I think we will dip back into the low $8.00s. I will keep the rest of my shares that I have a buy-in average below $4.00.
However, I no longer have any conviction in my thought that we'd be $10.00 at abstract release, $11.00 at ASCO and high teens by end of year.
Apologize for my "chicken little" imitation, but this is my first "ASCO" run-up and thought we'd see a nice boost.
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