LOOK WHO’S SELLING NTMD
The company’s chief medical officer exercised options to buy 60,000 shares last week at $1.16 and sold them for $21.94. In December, he sold 30,000 shares at $20.63 that he had acquired by exercising options at 8 cents a share. Meanwhile, the company itself has filed a ‘shelf registration’ to sell up to a quarter billion dollars worth of its stock and/or bonds – not an insignificant sum for a company this size.
Neither of these pieces of information is ‘dispositive,’ as they say – ‘finally determinative.’ But taken with the IMS prescription data suggesting that only a few hundred prescriptions for BiDil may have been written thus far (while expenses of more than $100 million for the year have been budgeted), one imagines that the chief medical officer, and the company, may be on to a good thing.
(A shelf registration doesn’t require a company to issue new securities, but puts it in a position to do so without regulatory delay.)
The stock closed last night at $19.90, for an overall market valuation, with just over 30 million shares outstanding, of $600 million.
Anything’s possible, but . . . don’t sell your puts.
BEFORE WE ATTACK IRAN . . .
The author argues that it’s a serious situation, but hardly a crisis.
Quote of the Day
The test of our progress is not whether we add more to the abundance of those who have much, it is whether we provide enough for those who have too little.~Franklin D. Roosevelt
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