Wednesday, March 19, 2014

Trade Updates - Aveo BioPharma and Bind Therapeutics

Aveo (AVEO) - Purchased 4,000 shares at $1.69.  I don't necessary feel great about the companies near term prospects but they had approximately $120 million in cash at the end of the year and their current book value is $87 million so I felt it was a good value play.  They have an opportunity to in-license or hope for some positive developments in their preclinical program.  I'm selling back at $1.90.

Bind (BIND) - Purchased 1,000 shares at $12.10.  The company went public last year at $15 and is running two phase 2 trails of it's lead compound in Lung and Prostate cancer with results expected later this year.  They had over $80 million in cash at the end of Q3 and three outstanding partnerships - Amgen, Pfizer, and AstraZeneca.  With a market cap just under $200 million, this seemed like a great buy at this price. 

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