Bottom LineThe Stock has reacted in extremes both to the high side and to the low side. Right now, it's to the low side based on a perceived miss on one main objective but without regard for wins in most items RVX was looking to achieve with this trial. They will continue to move forward as they had planned and with the information in hand to run a longer, more tailored approach, utilizing some of the data learned through the ASSERT trail.
This company is as it was two weeks ago. The stock is polar opposite to where it was two weeks ago. That is the Company and scientists vs. market perception of the ASSERT trial and subsequent investor fear.
At $2.40/share average, obviously I wish I waited longer to take an initial position, but it is what it is. This company isn't going anywhere in the short term and will continue with their next trial. The stock will rebound, and unfortunately, with the run up, tax loss selling, and Ireland/Portugal/Spain and China, investor appetite for risk is very small. This is essentially a perfect storm for RVX stock to be hammered in.
In due time, whether next week or in early 2011, the stock will rebound to decent levels. The key is understanding the ASSERT trial, the outcome and the next step the company is taking. That understanding will lead to patience for the specific performance of the stock to turn-around.
After all, these companies take years upon years to get going. This co is still in its infancy.
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