Monday, May 2, 2011

UPDATE: Neoprobe (NEOP) to hold conference call on May 4, 2011

** Neoprobe conference call in 2 days (9 am ET) **

I first wrote about Neoprobe (NEOP) on Apr. 27, 2011 (read more).  The biotech will be holding a conference call discussing updates of their pivotal clinical trial data on Lymphoseek, a radioactive tracing agent to be used in lymph node detection.  The call is scheduled to begin at 9 am ET before market open.  NEOP is up 1.9% today ahead of the news announcement (up another 1.2% in after hours).  It should cross the $5 level tomorrow as more investors take notice of the conference call.  Judging from the company's confidence in Lymphoseek (see NEOP press release) as well as the intentional pre-market timing of the conference call, positive data should be expected.  Therefore, I plan to hold my June $5 call options through the event, expecting it to rise further as the American Society of Clinical Oncology (ASCO) meeting approaches (June 2011).   June $5 calls are a great buy - still relative cheap at $0.55 in advance of major catalyst in 2 days (conference call) and in June (ASCO meeting).

No comments:

Post a Comment