Reata PharmaceuticalsHi everyone, this is KalaGhazi and today I will be talking about Reata that just rocketed 200% yesterday.
Reata Pharmaceuticals RETA stock skyrocketed almost 200% on Wednesday, a day after the FDA approved its drug Skyclarys, or omaveloxolone, across a broad patient population of an ultra-rare disease called Friedreich’s ataxia.
Shares of Reata have surged 200.3% in the past year against the industry’s 9.9% decline.
Reata’s new rare-disease drug will cost $370,000 per year.
Who on earth has the money for this treatment???
Reata
$RETA ShortStock: $RETA (Reata Pharma)
Stock Price: $169.00
Position: Short
Type: Options (Buy Put)
Play: Swing
Risk: Very-High
Date: 11/15
Strike: $160
Limit: $17.20
Contracts: 1
Equity: $1,720
*Note: This short is expensive and will open up negative if you have to get filled higher than the market.
This is a 1 of 2 short position open.
This stock recently beat a Phase II study. Causing it to gap up AH. Currently up 70% in the last 24 hours.
There is a Phase 3 coming up which can cause another 30% to 50%+ run. So, yes this is a high-risk trade.
I expect this company to hit $170 by the end of the day.
