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[jooksed]

you don't think the results are going to be released today before market close?

If they are out before market close,

will you be keeping for after hours today?

thanks for the help man

my first time trying to do a nice FDA hit

hope ill be jumping for joy..

[dorkytom]

The belief with many investors is that when a company has bad news it comes out on a friday or over the weekend... gives people time to think rather than sell on emotions.

There millions of exceptions.... (including fda approval announcements on friday after afterhours has closed) so that is not a rule, but thats just what I was commenting on above.

Monday morning announcements are suppose to be good, since it gives everyone all week to buy. (Again millions of exceptions)

I think it is rare that they will announce while market is open... if they do there should be halt in trading, positive news halts usually cause a huge rise followed by a decline, because it traps shorts... but short interest is very low, so i wouldn't expect that. I have seen companies halt on bad news too... this has the opposite effect.

We are in kind of a tight spot because the PDUFA date is a Friday, PDUFA dates are by no means binding and the FDA can and often does delay without giving any reasons. So Somaxon may not even get an answer today. Some PDUFA dates are delayed for months with no reason given. This is a resubmission from Somaxon on a drug that has FDA approval and widespread use for depression at much higher doses so I believe that it will either be on time or delayed less than a week.

I'm in till the dice rolls.... you need to do what you feel comformatable doing... for all you know I could work for the company or be shorting the stock... Do not blindly take "help" from forum members (including me) or anybody (particularly analyst and brokers).

[jooksed]

hehe thanks man,

well i verified if its possible to short it, and i was told it isnt.

basically

i bought 10 000 shares at 3.76

i think im going to keep them into after hours

but i will set a stop at 3.30 if it hits that low ill let it sell at market price.

what is your strategy to try and not lose too much if its not approved?

thanks bro

[dorkytom]

Somx can definitely be shorted... it is likely that your broker or the person you asked's broker will not allow them to short. Many brokers will not let you short stocks under 5 dollars... but there are brokers that will and the big players will definitely be able to. BTW If SOMX gets approval I want there to be a lot of shorters around, since they will have to cover and jack the price up even higher.

See this link for short interest so you know I'm not making it up
Short Interest Stock Short Selling Data, Shorts, Stocks: Short Squeeze

second source

http://www.nasdaq.com/aspxcontent/sh...&selected=SOMX

As of their last report on November 13th, 270,100 shares shorted... thats really small short position. about 1% of the float.

Theres not much strategy for getting out... if I can get out early I get out early... but typically its already dropped too much and too fast. So if I miss the early exit than i wait for a little while for the slight rebound (a couple hours or a day or two).

Usually the stock falls too quick for a stop loss to be all that effective.
You have a pretty large position particularly for your first FDA approval drug... I don't have that large an appetite for risk.

Not much else i can tell you.

[jooksed]

any news guys?

[dorkytom]

Originally Posted by jooksed any news guys?

Still waiting and praying same as you...

[jooksed]

is this true??
if so, FDA didnot approve.

Somaxon Receives Complete Response Letter from the FDA for Silenor® NDA | Business Wire

[zippy]

ouch I guess that's it for SOMX:

[SOMX] Last: 3.53, Change: 0.00 (0.00%) [Dec 4, 4:00PM EST]
(After Hours) Last: 1.30, Change: -2.23 (-63.17%) [Dec 7, 9:02AM EST]

[Jenkins43]

Hey guys, first post on here but I've been reading posts here for a long time.

Stumbled upon this stock today: SOMX - Somaxon Pharmaceuticals, Inc

They recently had a drug denied by the FDA and their stock plummeted. The good news is, this company has good fundamentals, are part of the NASDAQ, and will more than likely bounce back from this. Definitely a good buy in my oppinion, tell me what you think please.

[pdtpatrick]

Originally Posted by Jenkins43 Hey guys, first post on here but I've been reading posts here for a long time. Stumbled upon this stock today: SOMX - Somaxon Pharmaceuticals, Inc They recently had a drug denied by the FDA and their stock plummeted. The good news is, this company has good fundamentals, are part of the NASDAQ, and will more than likely bounce back from this. Definitely a good buy in my oppinion, tell me what you think please.

Is it a good buy because it has fallen and still remains on the nasdaq? What sentiments are you looking at. Please involve a bit more details so we know where you are coming from .

Thanks.