Holy Moly: SRNE call options up +8800% today....Claims to have Covid 19 cure

SRNE up 170% but the whole market doesn t seem impressed, from memory it moved higher when Gilead Remdevisir news came out, but there might have been other influences in the market that evening

 

exactly. fishy news release

 

Beta of 1, when it comes to absolutely absurd/fear level, that world just experienced.

 

I have a PhD in molecular biology.

You're thinking of retroviruses like HIV that integrate into the host genome and can lie dormant. Coronaviruses don't integrate into the genome, so once you've fully recovered the virus is gone.

This is really shoddy sensationalistic reporting. The CEO is making over-hyped claims bordering on outright lies, and they should have known that if they had asked any independent expert for comment. That's not to say it isn't promising, but it's early stage research and there are a dozen reasons it could fail still.

 

Thanks for the clarification, it's always good to get the insight from someone within the field & have expert knowledge.

 

Agreed. Went long some shares. Purchased some puts to cover my bet.

 

I don't have much medical knowledge but here is my understanding from reading Foxnews:

1. They just identified the antibody. Not sure if they did any extensive test tube tests of it on covid19 or just based on theoretical analysis.

2. Have not tried it in a mouse model.

3. Have not tried it on primate.

4. Have not demonstrated safety in human trial.

5. Have not tried it on human.

6. Will be a while before they start phase 1 clinical trial let alone phase 2 and phase 3.

In comparison, Gilead's Remdesivir:

1. Worked 100% in test tube tests against covid19.

2. Worked 100% in a mouse model.

3. Worked 100% in primate, tested by NIAID.

4. Safety demonstrated in phase 1 clinical trial.

5. Positive phase 3 clinical trials.

6. Haven't even finished all the clinical trials after 6 months.

Foxnews claimed they could start rolling out as a FDA approved drug in a few months? I think they are tiny bid optimistic.

 

@Nighthawk, thanks for posting 'the stock of the day'

IMO this stock price is going nowhere but down after the pump

I can envision brokers this morning on the phone, by smart phone, email to clients ... buy buy buy, while Hedge funds short

todays trades

Volume 500,040,392
Avg. Volume 6,893,316

At the close 6.76
Day's Range 3.83 - 9.00
52 Week Range 1.39 - 9.00

 

I'm not a doctor nor do i play one at home. I'm going with the above answer.

 

You got to have king kong balls to short this.