I keep emailing CTIC and they won’t respond. FINE, I’m out completely if I don’t hear from them soon.
I already warned that 9/4 is supposed to have some news from the FDA regarding if Pixantrone was going to get Fast Track review versus Standard Review. This is all part of the biotech-lotto game. If CTIC doesn’t get Fast Track status on Pixantrone, then they’ll have to wait about 10 months before clearing final stage and getting on the market. I’m not exactly sure how far down the pipeline this cancer drug is, but I do know that dates like these are sensitive spots for investors.
I ran a quick Google Trends on Pixantrone, and it seems like the buzz has been fading. It seems like CTIC has gotten quiet all of a sudden, and either wants to surprise us or hide something from us.
Remember, Pixantrone is a fast cash burning project so they need to expedite the release of it fast. I would figure with the FDA about to review the product they would at least show more optimism in their PR. Well, whatever, I’m just reading between the lines as a trader, doing what traders do- speculate. I could be totally off base, but it sure makes it more fun to decipher things.
BTW, we broke under the channel failing to breakout out to 2 zone. We’ll need some big news to get past there. For now, the action heavily favors selling ALL or MOST longs in CTIC. Do your own homework, but enjoy mine!…
… just putting it out there, if you’re in CTIC and NVAX, be very careful. If the drug is a dud, it will take more than therapy to fix the stock price.
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You need to read this:
http://www.thestreet.com/story/10592500/1/cell-therapeutics-pixantrone-priority-review-or-not.html
In a nut shell, they were denied priority and the Sept 4th is their appeal.
thnx! there it is…
Nice move in AVII, though.
I sold a third of mine at +30% and kept the rest. Thank you, GIO!
Of course, then I turned around and put it in CFSG. Not looking like such a bright move on my part.
Hey man i know how that feels. what was our exit point on CFSG though? i think i charted a stop loss point, I have to dig it up. all i remember was waiting for vol follow through.
Hopefully AVII gets back on track. its been quite a run. i’m not letting go until i get 40%. lol. (actually i sold most already)
I ended up selling CFSG at -3%, and the rest of the AVII at +17%, so I’m good. Too nervous to hold anything but precious metal/resource stocks at the moment. Once bitten, twice shy and all that.
I read that Street.com article then Fly’s post about not getting ACAD’d and I bailed out immediately. Not worth the risk, imo, regardless of what the charts say. Better opportunities are out there. Took a small loss but it’s better than a thrashing.
…and they’re keeping quiet, not only because they probably can’t say anything until the 4th, but because there really isn’t anything to say until the 4th.
The FDA, unlike us trading rubes, doesn’t pay much attention to PR. To the extent that the FDA does pay attention to PR, it probably uses it as a contrary indicator – nothing annoys a guy in a lab coat like a guy in a suit issuing a press release full of breathless claims like “It’s a floor wax and a dessert topping!” The data that backs up those claims is what matters, and it’s in spreadsheets and notebooks, and academic journals.
If their case was really strong, they would have been granted PR immediately. The real question is “how often does the FDA change its mind, and grant priority review on appeal?”
I bought it for speculation that priority review would be granted; it was denied, but the short timeframe between the denial and the appeal means I didn’t mind giving it the extra two weeks for the situation to resolve itself.
Disclosure: Long CTIC.
Thnx for the input Eq. i’m kind of getting back in this biotech game. its sure is bumpy one. I was trying to see if there was any correlation with stock price and newsbuzz since this is a small company with a few shares outstanding.
lol @ dessert and floor wax!
They have spoken ….
http://www.thestreet.com/story/10592500/2/cell-therapeutics-pixantrone-priority-review-or-not.html
UPDATE: I heard back from Cell Therapeutics’ spokesman Dan Eramian who confirms that company is appealing FDA’s decision to grant pixantrone a standard, 10-month review.
“Yes, we respectfully discussed their decision, but official, final FDA notification is scheduled for Sept. 4, so I would not speculate,” he told me, via email.
GIO – owe you one for getting me to man up and call HLCS – never would have thought of it. I don’t know if have anything in that superball factory but it’s a big holding of mine.