A biopharmaceutical company focused on discovering, developing and commercializing small molecule drugs that address severe medical conditions with potential markets, including cancer and chronic inflammatory diseases.
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The mirror image of the pre-ASCO run-up is the post-ASCO run-down, at least for companies like Synta that worked hard to build up expectations and then presented preliminary or uninspiring data. But 4.5 was the floor before ASCO and I'm hoping it holds now. Mid-stage trials of ganetespib and elesclomol are too numerous to count, and the company has a sizable cash runway after the latest dilutive financing in April. The probability of some positive catalyst coming out of all those trials is too high to ignore at this price.
I agree that so many trials are being conducted that "hopefully" one of them produces positive results. It appears that either that many people are skeptical of synta because of their past failure with elesclomol (even though suppopsedly they now have islolated biomarkers to increase the chances of positive for certain patients), relatively unknown microcap stock, or just impatient to wait for study results (since it appears that biotech traders are the least impatient).
When, or if, would you include Synta as one of your GBMB picks.
Probably around 3.5. Hard to say because I'm trying to avoid downward momentum this year rather than setting buy thresholds.
Thanks for the response. Though I hope it never becomes one of your GBMB picks if it has to drop that low.