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Biotech Bubble Burst? Kura Crashes 56% From Opening Highs, Back Below IPO Price
Another anecdote of the bursting ebulience for Biotechs. As Valeant collapses further, Kura Oncology - which IPO'd yesterday at $8 - has today crashed back below its IPO price (down over 56% from yesterday's opening highs).
Kura Oncology, Inc., a clinical stage biopharmaceutical company advancing a pipeline of precision medicines for the treatment of solid tumors and blood cancers, today announced the pricing of its public offering of 6,250,000 shares of common stock at a public offering price of $8.00 per share.
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Grandma realized she likes smoking pot for her aches and pains rather than pop pills.
Death to big pharma.
"biotech" is a dead sector. there's so many people walking around that no government or even insurer, will want to spill assets on 79 year olds with cancers requiring 4 and 5 figure /month treatment.
none. Especially none when the Petrodollar Privelge has been blown by Barry
Anybody ask Janet if biotechs are near her price target yet?
That's a fair question.
Crazy Janet is giving Greenspan and Bernanke a run for their money. When she said yesterday she will raise rates soon unless things aren't looking nice, in which case she could take rates negative I had a flashback of the previous two's doublespeak.
But really this shows how docile the American public is. The Fed is a group of thieves, so of course they will continue to steal money through inflation if they are let to.
This will only end when all the gold in the vaults is wiped out. Not until then.
Let's hope it's sooner rather than later, it's clear that the American people aren't going to take care of things. I've given up on that idea long ago.
At least we get to keep stacking until then ;)
imagine when FB and AMZN bubble will burst...
A billion fb users who never click the adds. Make belive to market at its finest.
Worse than that, a huge slice of FB revenue comes from ads placed by social media and tech startups paid for out of VC money. When that source of ad revenue evaporates look out below.
FB members are posting dramatically less content, but not to worry because FB has so many wonderful new features that will replace the main portal as attractions.
Zuckerberg - The future is so bright I gotta wear shades!!!
I reckon the next one is the online gaming companies. Insane valuation.
Show me any online 'company' that isn't insanely overvalued by equity prices
King Digital PE = 10
Bristol-Myers Squibb PE = 1034If I HAD to chose I'd go with the online gaming.
Ackman is royally fucked.
Soooo...at what point will PE firms GTFO of the biotech space and leave the companies to be ran by people that actually plan to invest in research and development of cures/treatment?
Pelosi: "We Have to Pass the Bill So That You Can Find Out What Is ...
Fuck ObamaCare, it's a scam. Glad to see another burn into flames.
56%. Now this is a proper crash. Not like those <1% "surges" in gold that I keep reading about here latelly.
Looks like a little more rationality has come to VRX today.
Waiting for more folks (or quants) to wake up to the fact that Kyle Bass is making some headway on the stupid patents held by SHPG and CELG.
Take a look at Edge Therapeutics (Ticker: EDGE) seems to be the only one trading higher than the offering.