Myrexis, Inc. (NASDAQ:MYRX)

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As Yogi Berra once said, "when you come to a fork in the road, take the fork" & I am guestimating they will take the "right fork". They are now at the fork.

Win some, lose some. I faceplanted on the CAPS aspect of my Myrexis play as a delusionally expanding S&P quickly outpaced small gains in the stock. Fortunately, I profited $1350 from an unambitious real investment before just before the stock began its real capitulation phase in April 2011. A year later the stock has again fallen off a cliff after a modest recovery and now perches around the all-time low last seen in November. Inclusive of long-term investments, cash equivalents are 96M and long-term debt is 0. Today's market cap is 66M.

It's anyone's guess where Myrexis goes from here in terms of operations. They suspended all activities in their faltering pipeline in February and are now reviewing strategic alternatives. Of course, reviewing strategic alternatives with 96M in reserves and no debt is a big difference from doing the same with no cash and a ton of debt.

My previous cash-backed green thumb on Myrexis two years ago went nowhere, as they accomplished absolutely nothing except the consumption of cash in the interim. Nevertheless, flagging the company helped me to make some real money and if the same events unfold once more, you won't catch me sobbing in my beer.

will be interesting to see what happens here...90ish million cash. suspended product/clinical dev so has nothing zero zilch. new experienced pedigreed mgmt looking to acquire assets. upthumbing this more just to keep tabs on an interesting story

Insider buying

Lead drug candidate suspended...this is a cash play. Following the just recently announced termination of development of Azixa, there was the expected sell-off, but there wasn't a huge drop in price and it has recovered to pre-announcement levels, so it would appear that the market is being very mindful of their cash position. The remaining drugs in the pipeline aren't terribly advanced in development, and it will be interesting to see where the newly appointed CEO will take Myrexis from here.

Technically oversold with a nice balance sheet. Recent insider buys don't hurt either.

The are a buy out target

The pipeline looks nice, but... what do I know about these things? No debt, decent amount of cash on hand. For a speculative play on an emerging biotech, you just have to follow the trend sometimes. Looks like it's trending up, to me.

watch

V, 5/26/10

lots of cash

Valued below cash on hand. Jumping ahead of ZZLangerhans based on his excellent may 25 blog. Going long at $4.10 prox.

focus on Azixa trials

below cash

Mmm...pharmaceuticals...

I just think that 100millUSD is too low a valuation for a pipeline of potentially blockbuster drugs. Yes, they could dilute their shares away and trade for 10c eventually, but that is a 100% downside vs. a 1,000% upside.

I am fine with those odds because overall the biotech index trades upwards. I suspect that if you were to remove the post success biotechs from the index, the group would be doing even better. So invest pre-success and cast a wide net.

5.29

Trading at less than cash and pipeline is worth more than $100 million anyway.

I'm not sure about the Javelin gamble makes much sense, but at least it didn't use cash to get it.