Current state of play

I made an entry here in late February to note that I was exiting 3 positions (KERX, NAVB, and DARA). The next day I exited DEPO. The portfolio had been getting hammered and I was not happy with any of these positions. DEPO was approaching the release of AdComm documents so timing was right for getting out of that one. The moves over those two days left me with two full positions, DCTH and TSRX.

I sold half of my DCTH on 3/11 for $2.17 (I bought at $1.42 on 1/23/2013). DCTH is currently trading at $1.68 after announcing an ATM on 3/14. I sold half of my TSRX on 3/13 for $6.67 (entered for $5.18 on 2/7). I closed the remainder of the position yesterday morning on the announcement of positive results for ESTABLISH. I was hoping for another ACAD like move – but that did not quite pan out.

Speaking of ACAD, it is trading at ~8.20 today. I sold back in late November for $6.15. I wonder how high it can climb. Next catalyst for the stock may be an announcement of a partnership with a major player.

Currently I have one holding, DCTH. This is a small position as I sold half of my original. Looking for something new to add now.



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