The following stocks had notable activity in their options during the past week: $JAZZ (5/20): 4,000 SEP/JUN 55.0 strike Put Time spreads were traded (stock @ $58.36) for a net debit of 3.15 or $1,260,000. Specifically, 4,000 JUN 55.0 strike Puts were sold for 1.15 against a purchase of 4,000 SEP 55.0 strike Puts for […]
May 20th – End Of Day Biotech Wrap-up
Outside of a not completely unexpected merger, it was a relatively quite start to the week. As has been par for the course, ASCO oncology stocks tended to be weak but not in a significant manner. Perhaps we are having the quite before the storm. 1. PPHM announced its agreement with the FDA on a […]
PPHM – Peregrine’s Bavituximab future looks bleak
We have previously discussed[1][2] the numerous shortcomings of the overhyped oncology developer, Peregrine Pharmaceuticals (NASDAQ: PPHM). With further details on a botched Phase II trial that still leave many questions, investors still have not woken up to the fact that Bavituximab is worthless. In 2013, we expect to see another failed trial in first-line lung […]
PPHM – Little value in Peregrine Pharmaceuticals
For a very brief period of time, Peregrine Pharmaceuticals (NASDAQ: PPHM) had become the phoenix that rose from the ashes. Peregrine recently posted overall survival(OS) data from their randomized Phase II trial in second-line non-small cell lung cancer that excited many. It talked up being approached by over a dozen big pharma companies to partner […]
PPHM – Trade Note #1
Note: Patrick believes there is a risk this trades below $1 prior to OCT expiration if the company comes back with the analysis of what happened or the OS data from the 1st line trial is negative (which he expects) prior to that time.
PPHM – More downside expected in Peregrine Pharmaceuticals
We have recently posted on Peregrine Pharmaceuticals (NASDAQ: PPHM) in the forums and decided to further elaborate on the company. There appears to be significant reasons to be cautious with this name. Upcoming catalysts for Peregrine over the next 12 months The following catalysts are expected, which are led by the median OS readouts from […]
