Monday, February 24, 2014
Trade Update - Prana Biotechnology
I sold my 2,000 shares in PRAN this afternoon after the stock jumped 12%. I've purchased May 17th calls at $17 and here's my logic. Alzheimer's has proven to be extremely difficult to treat (unfortunately as my grandmother had this awful disease) so the chances of success of the upcoming results expected March in their phase 2 trial is slim (please see my earlier posts). Nonetheless, if the trial does miraculously come back positive the stock is going through the roof because of the huge, multi-billion market potential. If you are in PRAN, good luck and I really hope this works for the individuals that suffer from this horrible disease!