GNTA can still get approval, and if they do this thing is going to rocket. No way would I be shorting down here. I think Iressa had the same bullshit FDA grumbling a few days before the announcement and they still got approval.
I stepped in shit in the worst way on this thing. I was putting on the position about 9:45 when the news hit. I was doing the 15/25/30. I had the buys done at at 15 and 30 and was keying in the 25 sells when we started rallying, so I waited a minute, trying to maybe pull a free trade out of it. Costly minute. Wound up selling 30 of the 22.5s for 50 cents. That just made my window of profitability much smaller and my chances of loss much greater. What luck.
Damn, that sucks. Based on a similar experience, I stopped legging my flys a while back. I'd rather pay a little extra for the certainty. But this play isn't looking good for any of us right now.
Bad luck ktm. Beginning to wish I hadn't opened the thread - sorry guys. $8.16 as I write so something will have to give 'cos at this rate the co will cease to exist by today's close.
Guys, quick question. Are they expecting an approvable letter on Monday or is the company issuing a statement on monday regarding the trial results? There is a huge difference. Just curious. Been mildly following this soap opera that is GNTA.
ROTF! Not that anyone cares but, I hate these biotech plays - such a damn crap shoot. But watching everyone else's pain is good late night entertainment. :eek:
I think they are first at the advisory meeting. Then in early June it goes to the full committee (??) for an approval letter or not.