For those of you who don't read Stoney and I's thread, (can't blame ya really), but this biotech might be worth a look. https://www.elitetrader.com/et/threads/gbas-2021-stock-phantasma.354298/page-463#post-5379658 $ALDX
Anyone see a pattern here? 5/3/2021 Perceptive Advisors Llc Major Shareholder Buy 1,200,000 $12.50 $15,000,000.00 1/19/2021 Perceptive Advisors Llc Major Shareholder Buy 1,368,421 $9.50 $12,999,999.50 1/7/2021 Perceptive Advisors Llc Major Shareholder Buy 500,000 $8.13 $4,065,000.00 7/9/2020 Perceptive Advisors Llc Major Shareholder Buy 3,200,000 $4.25 $13,600,000.00 3/16/2020 Richard Douglas Director Buy 40,000 $2.75 $110,000.00 125,000 Insider Buying (Last 12 Months): $45,664,999.50 Insider Selling (Last 12 Months): $0.00 (Look at the call volume for the June $15's on 4/27)
$45 million would be large if from individuals but it's from an investment firm with more than $9 billion in total investments. Their total investment in ALDX is valued a bit over $115M. (18% of ALDX and 1% of their total investments) https://whalewisdom.com/filer/perceptive-advisors-llc#tabholdings_tab_link Small biotechs are usually buy small and keep the fingers crossed. Might take a very small position for fun, similar to my crypto bets.
Yeah I knew it was a firm, only "technically" an insider due to their stake in the company, but thanks for pointing out the size of their operation. I probably should have looked at that too. I did after I read your post. It's interesting though, their website hasn't been updated regarding the companies they hold positions in in quite awhile. No biggie I guess, obviously they invest in tons of companies that are on the cutting edge of something. I read through more of ALDX's stuff earlier. Note.... they will not have any commercial products until 2023 at a minimum. They flat out say it in their report. I thought at first their dry-eye drug was close, but without going into a bunch of technical stuff, they have a long road ahead even though its in phase III. It has to do with how they assay the trial-patients' results. There is no existing test, other than theirs. And that test itself has to be approved by the FDA. The test that tests the results. Stoney mentioned that the FDA is way backed up for new drug approvals due to the work on Covid related stuff. That certainly makes sense to me. This company has the cash to operate through 2023, and the drug in question could be huge, and my hunch is it works, but the whole FDA thing.... we are way too early on this one. $12.50 will be a cap for awhile I think. They can publish results from the clinical trials as they progress and that will certainly bump the stock... but that whole assaying thing... that looks like one big headache to me. Bottom line... I was too early. I don't think its going to make some crazy run anytime soon. Worth watching, but trading $'s are probably better used elsewhere for now. My bad. Thanks BKR.
This: Because RASP is a new objective sign for the treatment of dry eye disease, there is no precedent in measuring and validating the results of studies of RASP in tears, which could impact the timing and cost of development of our trials and delay or prevent the filing of an NDA in dry eye disease. To our knowledge, a validated assay to measure RASP in tears has not been developed and the FDA has not established guidelines for the design of trials in which RASP is measured. There is risk that the RASP assays we have developed will not accurately measure RASP or be accepted by the FDA or other regulatory bodies as validated assays. In addition, The FDA could change its view on clinical trial design and the method for assaying RASP and require a change in clinical trial design, additional data or even further clinical trials before granting approval of our product candidates. As a result, further development of reproxalap in dry eye disease may be negatively impacted or delayed, which would have an adverse impact on our business, prospects, financial condition, and results of operations. And this: We do not expect reproxalap and our other product candidates to be commercially available, if at all, before at least 2023.