AVNR - Sector: Healthcare---Industry: Drug Manufacturers - Other

[jsintexas]

I know there are.  But my post had nothing to do with "a short squeeze opportunity" that was started 3 months ago and none of that information is even relevant or even current anymore.  Same with the other one that was started in July and once again the third about a "short squeeze opportunity" back in June.  All of which are dead wrong huh?

Not trying to ruffle any feathers, but I think the "short squeeze opportunity" is not gonna happen anytime soon as was talked about in all 3 of those other posts.  I wanted to hear what people's opinions were on the current state and PPS.   

[Se7en]

What's important here is that the other threads are about AVNR, it doesn't matter what kind of commentary is added in the title! If everybody is going to start a new thread each time there's some new development in a company or in it's charts or ..., this board will become a mess!

[ScottishTrader]

se7en is right, the important thing is trying to keep everything to one thread...  however, all I can say is AVNR is in no man's land.  it is way below its lowest level in 3 years - there really is no support and the last week has had enormous selling volume.  If you bought the gap down, thinking it would rebound, you will already be in serious hot water on this trade.

Try to do your best to be objective on this and think about limiting loss.  The 15 min chart shows that AVNR found some support around the 2.87-2.88 level, which it closed right above yesterday.  If it breaks this it could drop another 50 cents, really, who knows?  i would set a stop around 2.85, looking for this level to hold , otherwise accept that the trade was not a good one, and move on.  If you want to give yourself a little more room (and a little more risk) set it just below 2.75, friday's low. 

Hope this helps

[jsintexas]

Sounds good enough.  I won't open another thread if a topic exists anymore.     Heck, I hardly even post to begin with.  Usually, just read.

Anyway, thanks for the advice.  I think I will follow it closely.  Today is my "sell or hold" day.   

[Se7en]

Sounds good enough.  I won't open another thread if a topic exists anymore.     Heck, I hardly even post to begin with.  Usually, just read.

Anyway, thanks for the advice.  I think I will follow it closely.  Today is my "sell or hold" day.   

Well, maybe it's time to start posting a bit more, without opening too much new (already existing)  threads ofcourse! 
Good luck with your AVNR!

[Stocky2000]

day high break 2.96 back in

[Samantha Stephens]

It looks like the additional offering of 5.3M shares at $2.85 is complete. Those kinds of secondary offerings usually keep a stock pegged for a while. Maybe now it can gitty up? Just a thought...
Samantha

[Samantha Stephens]

AVANIR Announces Cost Reduction Initiatives and Provides Update on Zenvia for IEED

San Diego, Calif., November 9, 2006 -- Avanir Pharmaceuticals (NASDAQ: AVNR) announced today that it has taken several steps intended to significantly reduce on-going operating expenses.  Effective immediately the Company has suspended all commercial initiatives focused on Zenvia™ for the treatment of involuntary emotional expression disorder (IEED) and has reduced research and development expenses including placing on hold activities associated with the selective cytokine inhibitor clinical development program.  These actions have led to a 16% reduction in the Company's current workforce.  The Company has implemented these changes to reduce its cash burn rate to a goal of approximately $10 million per quarter, before estimated severance costs of approximately $800,000.   

These actions were taken following receipt of an Approvable Letter from the U.S. Food and Drug Administration (FDA) for Zenvia.  Since that time, the Company has assembled a team of professionals dedicated to addressing the Agency's concerns.  The Company has added to Dr. Randall Kaye's responsibilities by appointing him as the new head of clinical development.  Dr. Kaye, Vice President of Medical Affairs, and his team are dedicated to developing a comprehensive plan intended to address the concerns expressed by the FDA in its Approvable Letter.  Once prepared, the Company will request a formal meeting with the FDA to ascertain the appropriate next steps required to pursue marketing approval for Zenvia.  The Company currently believes that this meeting will most likely take place within the next 60 days. 

"Over the last few days we have had to take steps to improve the cash position and reduce the cash burn rate for the Company.  The decisions we had to make were difficult but necessary.  These cost reduction actions and the recently announced financing will provide financial flexibility for the Company while determining the future opportunity for Zenvia," said Eric K. Brandt, President and Chief Executive Officer of Avanir. "We believe in the therapeutic potential of Zenvia to provide relief for this unmet medical condition.  I have personally had the pleasure of talking to IEED patients and their care givers about the life changing effect the drug candidate Zenvia has had on patients' lives in our clinical trials.  We will provide an update on this program once we process the feedback from our planned meeting with the FDA."

[jsintexas]

After today, I think holders are in for a lot of slow pain, since it closed red on what should have been decent news, at least enough to sustain some of it's highs it saw today.   

[Samantha Stephens]

Do you think it's worth holding out til the December 11th conference call? They also said they'd respond in the next 60 days to the approvable letter...

[jsintexas]

Gosh, thats a hard call, especially with it trickling down .03-.06 cents a day.  It could be down to a buck by then!

[sir_joke]

UGLY UGLY UGLY UGLY!!!!! And Damn the FDA as well.

This product will still see the light of day but short squeeze play is gone!

Ah well, for what it's worth I got slammed, blindsided, broken and pummeled....

And now I have an even larger position for the very LONG TERM.

Averaged down and put it into the "wait and see in 5 years" account.

Hopefully it won't be that long.

cheers,
SJ

[Samantha Stephens]

Hi All - How do you know the short squeeze is gone? It still looks like a possible squeeze on Shortsqueeze.com http://shortsqueeze.com/index.php?symbol=avnr ...

They should have news in the next couple months. I'm going to keep my eyes on the options to see if I can divine a direction.

Short term ... it is a bit like water torture.
Samantha

[jsintexas]

Samantha (or anyone) can you tell me what you look for in the data you provided the link for that would indicate a possible short squeeze?  I ask not because I doubt, but because I really don't know!     That could be good info to know.

Thanks!

[sir_joke]

the volume traded on "approvable letter" day was more than enough to cover all existing
short positions that were in place from $9.00 and above following the Sturza attack.

Only shorts are now $4 and below and that position is most likely retail and very low.

I posted the short squeeze opportunity on the basis of FDA approval and a 34% short position of the float.
That is gone now.  The FDA decided that the safety trial didn't test the correct population which may be treated by new drug regime.

Remember... Quinidine sulfate is already approved at a 350mg dose for heart patients.
Dex is an over the counter ingredient in cough syrup.

Neurodex or Zenvia contains only 30 mg Quinidine and Same Dex as in the otc product.
Why this was not approved is a damn mystery that only the corruption in the FDA can be blamed.

cheers,
SJ