Tag Archives: staa

STAAR Surgical Company: STAA

I AM NOT A FINANCIAL ADVISER! This is my attempt to better understand the cause/effect relationship of FDA Advisory Committee (AdComm) meetings on BioTech/Pharm stocks. This is for my own education, not to serve to advise or recommend any path for others. If looking for advice look elsewhere. If trying to understand the same stuff I’m trying to understand, please draw your own conclusions… mine are nuts, and would likely put you in the poor house.

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FDAAC Meeting was RESCHEDULED for Mar 14, 2014 from Feb 14, 2014 due to weather.
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Meeting Materials

RECOMMENDED APPROVAL

Entire Webcast (third-party provider… costs money)

Note

  • I watched the surgery performed on YouTube… I HATE seeing anything touching an eye… this SUCKED.
  • I’m no longer long STAA
Date Open High Low Close Change from Prior
2/12/2014
Materials 2/12
15.75 16.01 14.67 14.70 -0.99 (-6.31%)
AdComm Postponed One Month Due to Weather
3/13/2014 14.73 15.15 14.62 15.09 0.46 (3.144%)
3/14/2014 15.20 15.636 15.20 15.37 0.28 (1.855%)
The Webcast for the AdComm was not publicized.
To my great surprise, there was no firestorm to buy at ridiculous prices in the After-hours market.
3/17/2014 17.99 19.50 17.44 17.70 2.330 (15.159%)
3/18/2014 17.36 17.50 16.44 17.12 -0.58 (-3.277%)
3/19/2014 17.14 17.37 16.67 17.27 0.15 (0.876%)
3/20/2014 17.27 17.35 17.0 17.06 -0.21 (-1.216%)
3/21/2014 17.06 17.06 16.33 16.61 -0.45 (2.638%)
5-day 17.99 19.50 16.33 16.61 1.24 (8.068%)
  • There was a 6.31% drop on the Close of the Materials Release date from the prior Close… materials appear to have been released during the trading day, but not certain of this.
  • Best results would have been to have bought on the 12th, two trading days before the AdComm
  • The first Open after the Approval Recommendation was up 17.046%… within ten minutes it maxed out at 19.50, or 26.87%.
  • The first trading day post-vote High was 8.394% higher than the Open, and occurred 10 minutes into trading.
  • The first trading day post-vote Low was 3.057% lower than the Open.
  • The first trading day post-vote Close was 1.612% lower than the Open.
  • The five-day High was 8.394% higher than the five-day Open, and occurred on the first day.
  • The five-day Low was 9.227% lower than the five-day Open, and occurred on the fifth day (second day experienced significant low as well).

This encourages selling promptly after Open: the low of the first candle after the first red candle, at 8:44am EDT on the day was 18.80. After 8:47am EDT it did not approach 18.80 again.

This disputes the argument that you can short from the Open to cover at 20% of Open: the Low for the day was only 3.057% lower than the Open… in fact the Low was only 10.564% lower than the High.

These points could also suggest NOTHING, you greedy pig!