Cytokinetics: VITALITY-ALS Trial Fails (CYTK, Buy, $8.00)
CYTK announced today that the VITALITY-ALS trial in ALS failed which is obviously a significant disappointment. The stock is trading down to $8.00 in pre-market trading. I had thought that there was a good chance for success in the trial, but recognized that ALS is a tough disease in which there have been innumerable drug development disappointments and that VITALITY-ALS could fail . On October 30, I wrote a report: Even if Tirasemtiv Were to Fail in Vitality-ALS. There is Great Long term Stock Potential which laid out my investment thinking in the event that VITALITY-ALS failed.That report explains why I remain a buyer of the stock after this trial failure. I refer you to that report.
Tagged as cytk, Cytokinetics, VITALITY-ALS trial fails + Categorized as Company Reports, LinkedIn