Quick update

Difficult day for the market with the NASDAQ down 0.25% and the Biotech Index down 1.1%. This portfolio was down ~0.6% – perhaps due a rest after four consecutive up days. Currently holding VTUS (up 3%), APPY (up 44%) and CPRX (up 24%). VTUS and APPY are small positions as I have previously exited 50% (both on 9/11).

VTUS is certainly disappointing in that I exited the first 50% at $3.45 and the price has rapidly come back towards my entry level (closed today at $2.70). On 9/11 it traded as high as $3.72. I am continuing to hold though. I am reasonably confident in the ultimate results of the pending phase 3 trial and it seems likely that if the PK/PD trial results were able to inspire a 40% spike, the P3 results should be all the more significant; Hopefully the stock will see some price appreciation ahead of time. It is certainly unfortunate that the trial data release seems to have been pushed back a few months.

 

 

VTUS pop

Quite a morning for VTUS. My entry timing was pretty good! Huge volume and a 33% jump in price based on an announcement of safety and pharmacokinetic data required for the eventual (hopefully) NDA. I just off-loaded half of my position at $3.45. Will hold the rest and see if the momentum continues.

Two new positions

This afternoon I have added a couple of stocks to the mix. I bought a position in VTUS an $2.62 and a position in CPRX at $2.32.

APPY fell sharply today after a nice run from $1.42 to $1.77 in the last week. My portfolio was also down – time for a bit of a rest after 8 consecutive up days.

Down to one position

ZLCS popped this morning in the pre-market. I think it got as high as $0.98. I decided to take advantage of the strength and got out just after the open at $0.91. I had been in this one since August 8th when I bought it at $0.71. It was a rough ride as it dropped as low as $0.56 the following week. I was very happy to be able to exit up 28% on the position.

Yesterday I dropped my position in IPCI. I sold it at $1.91 for a 9% loss. I was wary of this from the start – and took a smaller position than I usually do. Once in it, I found that I did not really feel like hanging on to see if it could regain its recent highs.

APPY had a nice move today closing at $1.56. In late July it broke $1.60 but fell back quickly. I am up 22% on this one and hoping for a bit more. Just greedy I suppose. APPY is developing a diagnostic blood test that will help to assess children presenting with abdominal pain – specifically it will aid in ruling out a diagnosis of appendicitis. Very small market cap with an expectation of further data from their pivotal trial over the coming months.

APPY