12-18-2008, 04:14 PM
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Registered User
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Join Date: May 2007
Location: D' burbs
Posts: 1,493
Rewards: 40
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picked up two today
Tried to short GM on negative comments by the gov't but couldn't get borrows (on GM!) so I went with shorting JCI, Johnson Controls. They're a big auto supplier and will likely be affected by the extended shut downs and possible bankruptcies. Short @ $18.19 average.
Also took a bio lottery play. IDMI got a boost today. Bought @ $1.78 Here's the gist:
IDM Pharma, Inc. (Nasdaq: IDMI) today announced that the Committee for Medicinal Products for Human Use (CHMP) formally adopted a positive opinion for mifamurtide (L-MTP- PE), known as MEPACT(R) in Europe, for the treatment of patients with non- metastatic, resectable osteosarcoma, a rare and often fatal bone tumor that typically affects children and young adults. The formal adoption of the positive opinion follows the CHMP recommendation previously announced in November. The marketing authorization is likely to be issued by the European Commission in Q1 2009.
Granting of the centralized marketing authorization will allow L-MTP-PE to be marketed in the 27 Member States of the European Union (EU), as well as in Iceland, Liechtenstein and Norway. L-MTP-PE would be the first approved new treatment in more than 20 years for patients with osteosarcoma. L-MTP-PE was granted orphan medicinal product status in Europe in 2004. Therefore, under European pharmaceutical legislation, L-MTP-PE is entitled to a period of 10 years market exclusivity in respect of the approved indication.
Bios are always weird so it could go either way but it's still right in it's normal range and this is good news for them.
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