CombinatoRx: May Not Be As Bad As It Looked
by Jon C. Ogg
24/7 Wall St.
CombinatoRx (CRXX) is still down in after-hours trading, but nowhere near the levels that it looked like the stock was trading at. The stock was initially down more than 20% after the news came out and before the stock was halted. Shares are actually down only about 3.3% now at $7.05 on what appears to be roughly 415,000 shares. Obviously this is not going to be under that $5.50 year low like this one was looking originally.
The good news, as noted, is that this company is not just a one-trick pony in the molecule land. The bad news is that this failed indication was for Rheumatoid Arthritis and there could have been a great addition in business if this would have worked out.
Sometimes these stock halts create some extra issues on their own, and that is what appears to have happened here on this one.
Source: 247WallSt.com
RELATED READING:
- Biotech Implosion: CombinatoRx (CRXX)
______________________
24/7 Wall St.
CombinatoRx (CRXX) is still down in after-hours trading, but nowhere near the levels that it looked like the stock was trading at. The stock was initially down more than 20% after the news came out and before the stock was halted. Shares are actually down only about 3.3% now at $7.05 on what appears to be roughly 415,000 shares. Obviously this is not going to be under that $5.50 year low like this one was looking originally.
The good news, as noted, is that this company is not just a one-trick pony in the molecule land. The bad news is that this failed indication was for Rheumatoid Arthritis and there could have been a great addition in business if this would have worked out.
Sometimes these stock halts create some extra issues on their own, and that is what appears to have happened here on this one.
Source: 247WallSt.com
RELATED READING:
- Biotech Implosion: CombinatoRx (CRXX)
______________________
posted by Nico at
8:23 PM
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