Stocks

[cholent]

Still buying on any minor dip.

Welcome back!

[ckmk47]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

[madhocker]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

monthly call options (60 strike) last traded at 1.75.... if you think stock could move +10% on positive news you would be covered

[Danlover111]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

Is it to late to jump in on calls?

[ckmk47]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

Sorry, the FDA meeting and announcement is FRIDAY not Thursday.
The stock went down yesterday, so it’s still ripe for a profit.

[Realshlomo]

Is it to late to jump in on calls?

Which expiration and strike price you going for?

[CountValentine]

Sorry, the FDA meeting and announcement is FRIDAY not Thursday.
The stock went down yesterday, so it’s still ripe for a profit.

Stuck my big toe in the water. 

[madhocker]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

Just wondering- If there was unanimous decision to recommend the drug, it is just about certain that they will approve, no? Why would the stock price increase because of a decision that everyone expects?

[yos9694]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

Thanks as always for sharing your ideas here. Looks worthwhile to me

[ckmk47]

Just wondering- If there was unanimous decision to recommend the drug, it is just about certain that they will approve, no? Why would the stock price increase because of a decision that everyone expects?

This only applies to small companies who have few, if any, products besides the new drug.
My observation has been that there's a surge of excitement and stock buying when the committee recommends that a drug be approved.  Then there's a cooling and the price drops a bit.  Then, when it's actually approved it goes back up again.
Then it often drops as the reality sets in: production costs, breadth of patients, cost/ insurance approval, etc.
I understand your question and can't really answer, but the price usually/ often rises after approval.
The questions: how much? for how long?
Often the highest price is right after the market opens, and then is softens over the day.  But NOT always.

[yos9694]

The questions: how much? for how long?
Often the highest price is right after the market opens, and then is softens over the day.  But NOT always.

Indeed not. Case in point, your SWTX. Slowly but steadily rose and has held at more than double the pre approval price. But unusual compared to most

[dealmaster]

Interesting that the upgrade from Cantor Fitzgerald, implying 50%+ gains, didn't move the needle. Edit; it could be because of the trade volume.

[Danlover111]

This only applies to small companies who have few, if any, products besides the new drug.
My observation has been that there's a surge of excitement and stock buying when the committee recommends that a drug be approved.  Then there's a cooling and the price drops a bit.  Then, when it's actually approved it goes back up again.
Then it often drops as the reality sets in: production costs, breadth of patients, cost/ insurance approval, etc.
I understand your question and can't really answer, but the price usually/ often rises after approval.
The questions: how much? for how long?
Often the highest price is right after the market opens, and then is softens over the day.  But NOT always.

So we sell at 930?

[EliJelly]

So we sell at 930?

Is the meeting before that?

[gozalim]

Trading usually freezes during the meeting?
Does that also apply to options?

[ckmk47]

In a small company like LEGN, they'll likely halt trading for Friday of stocks and options.
I expect to sell on Monday - likely everything I hold.
I have often put in a sell order before trading opens in order to get the opening bell bump.
I have sometimes done poorly with that strategy.


Checking out the price pre-market gives some indication of sentiment.

[Danlover111]

And?

[CountValentine]

Sorry, the FDA meeting and announcement is FRIDAY not Thursday.

Was there an announcement?

[aygart]

LEGN has a drug that passed the committee recommendation with all 11 votes in favor. At the end of Feb. 
In reaction, it went up from below $60 to $70.  IDK what news made it retreat a bit , but it went back to the upper $60's again breifly.
The FDA is meeting on Thursday and will likely approve it.
Good luck on your play.

From what I am seeing this is not a d new drug but rather about approving an already approved drug for less severe cases.

[ckmk47]

The drug is new; not a new use for an old drug. For myeloma. The study results were exciting to oncologists. 
I think the FDA announcement was before the market close on Friday. But the stock is still down.
If there's no pop on Monday, I’m holding onto LEGN because I expect it to rise over time. 
A)This drug will likely have a market - note the oncologists reaction.
B)LEGN partnered with Bristol Meyers Squib to develop this drug.  Maybe BMS will buy them out completely over the next while.