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.