Looks like its a bear call spread, but he has 5K additional calls that'll pay off if it runs north of $8. If it drops under $7 and stays there by expiration, he pockets $0.36 X 10K X 100. They must have some kind of FDA approval type thing in the works between now and Sept 18th. If that's the case, its certainly an interesting trade. If the stock takes off, it'll have to break $10.30 before this guy makes money. If it flops he pockets $360,000. The worst thing that can happen to the guy is it closes right at $8, in which case he loses $1.15M. Had he not bought the additional 5K contracts, that would be offset by $360K so he would only lose $790,000. Its a bearish bet really, but with the caveat that the stock really flies if they do get approval. (The extra 5K contracts @ $8) Thing is, depending on what the drug is I guess, the $10.30 might not be a reach if they get approval. I mean you know how these biotechs move on news like that.
100k millenials all got stopped out this morning and now TSLA is probably going to retrace to the overnight high, around $538. So around $60/share if you buy now!!!!! I'm in for 40 shares!
Wow get ready to have your mind blown! This HGEN used to be..... KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest (Reuters) - KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on Tuesday. Martin Shkreli (C), chief executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc, departs U.S. Federal Court after an arraignment following his being charged in a federal indictment filed in Brooklyn relating to his management of hedge fund MSMB Capital Management and biopharmaceutical company Retrophin Inc. in New York December 17, 2015. REUTERS/Lucas Jackson The filing comes weeks after KaloBios received financing from Shkreli to avert closing down, only to have those plans upended by his arrest. Shkreli was arrested on Dec 17 for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed. Shkreli gained notoriety when, as the chief executive of Turing Pharmaceuticals, he raised the price of a drug used to treat a dangerous parasitic infection to $750 a tablet from $13.50. He resigned as Turing CEO on Dec 18. KaloBios plans to use bankruptcy to “evaluate its strategic alternatives” and to develop a restructuring plan, according to documents filed with the U.S. bankruptcy court in Wilmington, Delaware. A chief restructuring officer, Eugene Davis, was appointed on Dec. 23, according to court documents. KaloBios named Shkreli as its CEO on Nov. 20, after Shkreli and a consortium of investors bought about 70 percent of its shares for an average price of $1.51, and agreed to provide additional financing. The stock rocketed as high as $45.82 per share after Shkreli’s investment was disclosed. Shkreli had said that KaloBios’ lenzilumab was a promising candidate for treating rare diseases. OMG-- was the guy right after all this is the same drug.... They reorganized into HGEN...
Humanigen's lenzilumab shows positive effect in COVID-19 in case-control study Sep. 1, 2020 7:59 AM ET|About:Humanigen, Inc. (HGEN)| Resultsfrom a 39-patient case-control study in hospitalized COVID-19 patients showed a significant treatment benefit from Humanigen's(OTCQB:HGEN)lenzilumab, its Humaneered anti-human granulocyte macrophage-colony stimulating factor (GM-CSF) monoclonal antibody. The data were just published inMayo Clinic Proceedings. 12 severely ill patients received lenzilumab and 27 contemporaneous matched control patients, identified from an electronic registry of COVID-19 patients matched for age, sex, disease severity and baseline oxygen requirements, received standard-of-care (SOC) treatment. The relative risk of invasive mechanical ventilation (IMV) and/or death was reduced 80% in the lenzilumab group. Specifically, the risk of IMV and/or death was 8% in lenzilumab-treated patients compared to 41% in the control group (p=0.07). Median time to resolution of acute respiratory distress syndrome (ARDS) was one day in lenzilumab patients versus eight days in the control group (p<0.01). Median time to discharge was shorter in the lenzilumab group, five days versus 11 days (p=0.008). Lenzilumab was also associated with a significant reduction in an inflammatory marker called c-reactive protein and improved lymphocyte counts. The antibody is currently being evaluated in a Phase 3 NIH study called COVID-19 Big Effect.
Not Enough Vol 158K.. Need 750K on day....I know it's crazy but think of all the news outlets that will run with this story when they figure out the connection to Shkreli- Oh it's moving oh no $2.97 van
AHHHHH! Ok, so my supposition that something big was in the works was correct. I knew it wasn't earnings because they are due in Oct. Well there ya go. That option play is pretty damn smart, if the $4/$20 thing is in fact what will happen. If it goes to $20, this cat makes like $4.85MM, if it goes anywhere below $7, he still makes $360K.
HGEN HAS BAD VOLUME YOU HAVE ALL THE VOLUME VAN NICE JOB!!! AMTX- I would of been able to buy at $2 if I had been paying attention.
I know! Option players piss me off-- what's his or her risk? $ wise not that much and he or she can make $4 mil... if the case goes their way...