Bought IPCI this afternoon at $2.11. Potential to move on news of its various ANDA candidates. It looks like it is breaking out today so I am going to see where it goes. I am a bit wary of this one and will therefore be taking a smaller position than usual. It does have the demonstrated potential for sudden, gravity-defying moves.
I sold my remaining BIOD today at $4.73. I was really trying to avoid a repeat of my experience with DCTH earlier this year. In that instance I sold my initial 50% at +53% and the remainder at +6%. Not sure I did all that better with BIOD – the first 50% saw an improvement of 115% on the purchase price. Today’s sale of the remaining 50% yielded a 75% return. Can’t complain too much about the combined 95% return – but I wonder if there is a way that I can better protect gains.
A fairly ugly day all round. Everything I am looking at is red. ZLCS collapsing a bit in the afternoon after a flat morning while APPY has lost the decent gains it was showing in the morning.
Another painful day in the bio-trading world. To hopefully ease some of the ache I have started a position in ZLCS ahead of phase 2 data for their analgesic development compound, Z160. Volume has been growing since the start of the month, with a favourable article in Seeking Alpha having been published on August 1. Hopefully interest will grow as the data draws near (expected early in Q4). I am in at $0.71.