So called Biotech bull market!!
Puma Biotech, one trick pony, not approved yet and no real income anytime soon, recent major timeline blowouts, gives patients diarrhea, market cap a whopping $6.2 Billion!! I'm thinking overall, smart money is starting to dry up, lovingly hooked and fully invested into companies like Puma etc?? Jeez, with the money that has poured into this red hot sector one would believe funds would be more forthcoming. I'm okay with .44, but the warrants are way too generous, 18 months should have been the expiration, maybe half a share warrant per unit as well. With the dilutive shadow of this financing looming for the last few months, it's somewhat understandable, even in the light of the very excellent news flow, why the stock price performed like it did. Though I might add, never in the 20 year history of this company has the biotech sector been hotter! Regardless of past financing cycles, one would have expected a higher stock price in this sector's rising tide. Maybe this speaks to the unconventional approach to healthcare that TLT is pioneering, and that the establishment is resistant to such changes. But this is certain, change is going to happen, TLT or not! At least this round will get us the funds to start booking trials. Still long and strong, though slightly pissed off today.