+ Watch CCXI
on My Watchlist
huge stock price falloff because of a Crohns diease drug? You gotta be s#itting me.....biotechs have a bright future with ACA on the horizon and this will be one of the better bets to rebound..
I'm not putting myself forth as an expert on ChemoCentryx, having lost 50% of my 12K investment on the dual failures of SHIELD-1 and CCX140. I wish I could say that was my worst fail of 2013, but both Aveo and Dynavax were substantially larger. Right now, the only thing ChemoCentryx has in their favor is a nice slug of cash, augmented by a 65M financing the company wisely conducted in April. The company states they will proceed to full enrollment in the CCX140 trial in diabetic nephropathy despite the ugly interim data, and they have a couple more chemokine compounds in clinical trials. I might have been happy to walk away from this stock without looking back, but Portefeuilkle has prevailed on me to re-establish a smaller position with 350 shares at 5.5.
Flyer, based on nothing but a look at the chart.
130 MM in cash with a burn rate of 10MM per quarter
This stock is so oversold right now. They have 10 drugs in the pipeline. Their drug development engine algorithmically automates the development of new drug molecules. There is still a -chance- for Vercirnon, despite the recent SHIELD-1 Phase 3 study results (they are still investigating the methodology of the study). AND the stock is trending back from its recent fall. This is THE BEST time to get in on CCXI.
My timing was terrible on this buy, still CCXI has a strong balance sheet, and many nice early stage candidates in their pipeline. I expect this goes back to its high with time.
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