Cipher Pharmaceuticals Inc T.CPH

Hits after hits on Small Caps

[Daudau11]

Wow, yesterday DRX down like mad on good earnings and today CPH down even more on no news wtf is happening??

[TimeScape]

Weird.  At least CPH is up 3 bucks from the low of the day.

[Daudau11]

yea its recovering slowly but still who in the right mind would dump their holdings like this??  

[smush74]

this is not the first time CPH sp behaves like this with wild ups and down on no news. Their outstanding share float is miniscule that you only need one or two "big" trades to affect the stock. Just short of 1 million shares exchanged hands today, but if you look at it historically daily highs and lows regularly have daily swings of a couple dollars.  I've held this even when

[Daudau11]

Fyi, there is actually news behind the drop.  As to how big of a drop is justified well that depends on what was priced into the stock etc.  But the news is regarding the Nail Fungus phase 3 trial that Moberg is doing. Moberg Pharma lowers expectations on primary endpoint in ongoing phase 3 trial following data in a subset of patients | Moberg Pharma

[smush74]

true, but the fall started before Moberg news went public, I may well be wrong but thanks for the link.

[Daudau11]

Actually no, CPH just released the news about Moberg like an hour or so ago but Morberg did it before market opened.  They actually had a conference call at 9am EST about it too

[drewmumaw]

Did you listen to the call? I read the Q&A was supposed to be in English.

[Daudau11]

I did and it seems like Canada is not loss as they said they can use the approval for EU to get CDN approval.  At least thats how I understood it.  Was that what you got too?

[drewmumaw]

I wasn't on the call, unfortunately, so that's why I was asking. There's an interview with the Moberg CEO on Redeye, but it's in Swedish. https://www.redeye.se/research/1039785/moberg-pharma-intervju-med-vd-anna-ljung-5 It sounds like there's still a glimmer of hope: https://www.redeye.se/research/1039689/moberg-pharma-stuck-between-a-rock-and-a-hard-place It is also