BMY - RT

It will go back up, can’t win them all. My portfolio is so red that a 60% profit was tempting, so I sold & got lucky.

Today I bought very few, the rejection gives a 2-3 month setback before they resubmit & CV may slow things. I am curious to see the price action tomorrow, hopefully doesn’t bleed too much. It was trading at an insanely high volume today.
 
torpedoswap said:
It will go back up, can’t win them all. My portfolio is so red that a 60% profit was tempting, so I sold & got lucky.

Today I bought very few, the rejection gives a 2-3 month setback before they resubmit & CV may slow things. I am curious to see the price action tomorrow, hopefully doesn’t bleed too much. It was trading at an insanely high volume today.
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What does the price-action tell you today? Yesterday most of the actions happened in the opening 30 min.
 
Low volume (so far 700K vs 30M+ yesterday), so I doubt if there will be another bloodbath ..... should hover around this level for a few days and stabilize.

I will add a bit today. What are you thoughts on the delay & resubmission possibly in July? I feel this time we will see $4 only once FDA accepts it.
 
FDA didn't reject the clinical trial results, only the CMC, i.e., manufacturing etc. hopefully easier to fixed.

BMY is kind of incompetent. Those types of rejection shouldn't happen for any self respecting big Pharma. That is what worries me they will fumble away the filing of this and the other remaining. They are fumbling this like they fumbled Opdivo vs Keytruda.
 
ironchef said:
FDA didn't reject the clinical trial results, only the CMC, i.e., manufacturing etc. hopefully easier to fixed.

BMY is kind of incompetent. Those types of rejection shouldn't happen for any self respecting big Pharma. That is what worries me they will fumble away the filing of this and the other remaining. They are fumbling this like they fumbled Opdivo vs Keytruda.
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This is an all or nothing deal, so any positive news will drive price up but the moment there is a hint of failure, it will be worthless.

I was checking the chart yesterday & I almost did not notice they drove price down to $1.60 pre-market the day it fell last week. Normally I incline more on fundamental research but in this case you seem to have done a lot of homework. Thanks for sharing & I hope we get north of $4 once the submission is done.

The $9 deal imo is less than 50% probability now factoring in CV hit. What are your thoughts on it?
 
I am hesitating to go heavy on this.

If all goes well ide-cel by July & liso-cel by Nov should get us home, with a 4 month buffer until March 2021, but what worries me is CV might be an excuse for delay from both FDA & BMY.

Fingers crossed.
 
torpedoswap said:
This is an all or nothing deal, so any positive news will drive price up but the moment there is a hint of failure, it will be worthless.

I was checking the chart yesterday & I almost did not notice they drove price down to $1.60 pre-market the day it fell last week. Normally I incline more on fundamental research but in this case you seem to have done a lot of homework. Thanks for sharing & I hope we get north of $4 once the submission is done.

The $9 deal imo is less than 50% probability now factoring in CV hit. What are your thoughts on it?
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torpedoswap said:
I am hesitating to go heavy on this.

If all goes well ide-cel by July & liso-cel by Nov should get us home, with a 4 month buffer until March 2021, but what worries me is CV might be an excuse for delay from both FDA & BMY.

Fingers crossed.
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I am just a mom and pop amateur retail with no medical/healthcare training or knowledge so you are asking a non expert for advice.

My non expert opinion is the three drugs will get approved and two of them are game changers in immunotherapy. However, the uncertainty is timing and your guess is as good as mine if the approval timeline will be met.

It is a cost of $6.3 B to BMY and it is to BMY's advantage not to file on time. I am considering a hedge with a BMY call option expiring after March 31st 2021?
 
I had also been patiently waiting but without position. I knew they were going to refile, so got back in just 2 days before this spike. I think it will get closer to $5 once FDA accepts it.
 
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