September 6th Update: $AMRN, $YMI, $EXEL

Wow, it's been awhile since I don't post and update on this site. While not much has been posted, I have been busy trading this year. I've made some solid trades the past 3 months, I will post a review later this month. I think now is a good time to update everyone on my short list of holdings.

AMRN - I went away from my usual trading strategy of buying sub $5 biotech stocks, well there is where lessons to be learned there, 1st lesson, stick to what you know best and that would be sub $5 stocks. Bought in at 15.54 during the FDA and NCE approval hype(2nd lesson, don't buy into the hype). As most familiar with AMRN, things did not go as expected (3rd lesson, things never go as expected in biotech trading, be prepare for the unexpected) and most "investors" sold their positions after the FDA approval of AMR-101 (Vascepa). Today there are still question marks around the NCE and possible company buy-out. This uncertainty is keeping pressure on the price but recently it has been moving up strongly from its post FDA approval lows. Some of the uncertainty seems to be diminishing with the allowance of some key patents 13/282,145, which was based on results from the Phase III MARINE trial,

http://www.filedump.net/dumped/889allowance1346806593.png

This could lead to protect Vascepa through 2030, this would make the NCE a mood point and partnership likely. I will be watching to get back to break-even on this and news on the NCE in the next couple of weeks.

EXEL - Bought in at 4.45 in preparation for its PDUFA run up of November 29th. The stock has been on a nice run since the cancellation of the ADCOM (FDA advisory committee), which according to industry insiders and seasoned traders it’s a positive development for the drug. Today’s action gave us an indication that there is pretty strong resistance at 5.00, but if it can break that, it could run to 5.4+ before November. My trading plan is to watch for next touch at $5 if it can break, I will hold, if it fails, I will likely sell and re-buy on the next dip, if it happens.

YMI - Bought in at 1.93, I’ve been waiting for it to do something for a few weeks now; investors are waiting on two key pieces of information, news on initiation of CYT387 ph3 trial for myelofibrosis and a possible partner to cover the ph3 trial and possible NDA/Marketing costs. At this point I would be happy to just break-even and move on. Holding this one with tight stops.. for further reading see below

http://seekingalpha.com/article/845321-the-wait-goes-on-at-ym-biosciences