Alexa Pharmaceuticals Inc (ALXA) $0.73 +4.23%
Alexa Pharmaceuticals (ALXA) adds 3 cents to 73 cents and morning options trades on the biotech include a 3000-lot of Mar 1 calls bought outright for 25 cents per contract. 2000 more were bought later for 25 cents. 10,000 now traded. Open interest is already 13,800 and the largest position in the name. Today’s flow is likely to add to that OI, which has been building over the past week. On 12/14, 5100 traded — mostly at the 25-cent asking price. Yesterday’s flow included a buyer of 1,500 contracts for 25 cents apiece. Mar 1 calls on the stock were apparently being bought on Monday as well. Bullish trading on the stock comes less than two weeks after shares tumbled 48.5 percent on 12/8 after the FDA posted Briefing docs relateded to a 12/12 advisory committee on Adasuve. Shares recovered some of that loss on 12/13 after an FDA advisory panel backed Adasuve. On Friday Dec 16, Alexza said it had hired Lazard to explore strategic alternatives to enhance stockholder value, including the possible sale of corporate assets.
Category: All Stocks, Pharmaceuticals & Biotechnology, Small Cap Stocks
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
