Truth be told, I got shaken out of $MNKD from $5+ awhile back and missed the run to $7+. I would not want to chase $MNKD at this level; but I see an opportunity with $BIOD which market cap is only 3% of $MNKD ($60 mil vs $2 bil). Ok, $MNKD insulin delivery system is probably more preferably than needle but $BIOD new phase II mealtime insulin is supposed to be better than currently available mealtime insulin, so they say. Top line result from phase II trial is expected to release around September this year; so I like to see a summer run to a possible $10+.
I build a position today @ low $4.00 to take advantage of today correction.
This is a super low float company so I expect a lot of volatility; so it is not for the faint of heart.
Take a look at the chart below:
The only technical support I see here is the 38.2% retracement which today low has bounced off from.
Btw, I can’t help but feel that the money flow has recently been flowing toward anything related to diabetes medicine. My position on $TINY is getting a good rally probably due to its recent announcement that one of its start-up investment, Metabolon, has launched a diagnostic Test based on Metabolon’s Quantose(TM) Insulin Resistance Markers.
I’m afraid with the amount of sugar our nation is consuming, diabetes health issue is becoming more prominent.
My 2 cents.