RXDX (Prometheus Bio) is up massively (currrently 170%) on the news that their phase 2 results were favorable. With this rising so high and the next phase of results not being started until 2023 shouldn't this cool down a bit and be a good opportunity to buy some Put options?

quote:
The company studied its drug, currently dubbed PRA023, in patients with ulcerative colitis and Crohn's disease, two forms of irritable bowel disease. More than a quarter of ulcerative colitis patients and almost half the Crohn's disease group entered remission 12 weeks after treatment.

The results exceeded Prometheus' expectations, RBC Capital Markets analyst Gregory Renza said in a note to clients. Now, Prometheus is planning to run final-phase studies in 2023

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Posted by CajunTiger78

Member since Aug 2017

2879 posts

Posted on 12/10/22 at 7:40 am to CajunTiger78

Looking primed to fall soon. Money to be made on the way down. Offer price was way too high and some serious dilution may cause thus to fall back into the double digits if offering price fails on Tuesday.

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Posted by CajunTiger78

Member since Aug 2017

2879 posts

Posted on 12/10/22 at 7:47 am to CajunTiger78

Here's a rundown:

quote:

On December 8, 2022, Prometheus Biosciences, Inc. (“Prometheus” or the “Company”) In addition, under the terms of the Underwriting Agreement, the Company has granted the Underwriters a 30-day option to purchase up to 681,818 additional shares of Common Stock. The price to the public in this offering is $110.00 per share.

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