@oncobull tweets, "@adamfeuerstein, hey adam, what's up with YMI? acting like a dog ... but its mkt cap is soooo low. ... what's your bet for Monday ASH?" The only bet I'd make with confidence is that Monday night's data presentation will be controversial. Any flaw in the data will be magnified; positive data will be marginalized. I realize that's a pessimistic view for a drug and a stock for which I have some hope and optimism, but it's a prudent mindset given the way YM Bio traded after last spring's ASCO presentation. I do believe that forced hedge fund selling remains the most logical explanation for the more recent weakness in the stock, but we're not exactly seeing many buyers step in either. YM Bio has a dodgy reputation, mostly deserved, for developing bad drugs in the past so I'm not surprised that investors, generally speaking, mistrust the CYT387 data to date. I'm hoping this time around is different.
Dapo A. writes, "Adam, what does the Exact Sciences (EXAS) announcement of Dec. 5, selling more shares, mean?" Exact sold 3.125 million shares at $8, netting around $24 million. This is cushion money -- the company didn't really need it -- but it should give them enough cash to get through 2013 when, if all works well, the Cologuard colon-cancer screening test should be approved.