Solid day

A nice move of 1.9% today. Particularly pleasant given that the NBI was down 0.4%. The move was driven by a great CPRX performance. It closed up 6.4%. I am now up 44% in this position. I was tempted to unload some today but it looks like it might keep on going so I will hold for a while longer.

At present I am 46% cash, 31% CPRX, 14% VTUS and 9% APPY.

CPRX

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.

Added IPCI

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.

IPCI

Out of BIOD

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.

 

Adding some positions

I am adding two positions to the portfolio today: BIOD and RIGL. Both have trial results coming out later this year.

BIOD trades very thinly and it will take me a couple of days to get a full position in place. It has been trading in a narrow $0.35 range for the last 10 weeks or so. I am anticipating/hoping for a breakout as interest drives volume and price ahead of the phase 2 results of its ultra-fast acting insulin, BIOD-123 sometime in Q3. In today at $2.75.

RIGL is awaiting results from the OSKIRA trials of its drug, fostamatinib, in RA. AZ is conducting the trials and expects to release data in Q2. I am in this morning at $7.32.

 

 

 

Performance charts

I have fiddled around with my missing pages but for some reason the embedded Google docs do not seem to be embedding. Probably will require some support from WordPress to help figure this out. In the meantime, here is a chart showing performance for the 2nd year of this journal.

Screen shot 2013-03-27 at 2.03.40 PM

So we are up ~25% for the year to date – which is just short of 3 months. This compares favourably with the biotech index (NBI) and the NASDAQ. It is (significantly) under-performing last year though. This may be, to some extent, attributable to a lack of focus on the portfolio in January due to a confluence of holidays, travel, and flu. Year 1 in the following chart is in red. Year 2 is the blue line.

Y1 v Y2

Here is the total performance – since tracking on this site started in 2012.

Screen shot 2013-03-27 at 2.14.20 PM