AMAG.. FDA Approval Coming? - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**Aufan 1983** · #1 11-13-2008, 05:57 PM

AMAG... Amag Pharmaceuticals

Bought in here today on the pullback and managed to get in @ 31.00. This afternoon this exploded to close @ 37.32 up 103%.

Some are looking for 70.00 or more in December and it may not be that far off. AMAG has a 52 week low of 18.33 and a high of 66.94.

I plan to add shares on any pullback and would love to be sitting on 400 - 500 hundred before the end of the month. Only 250 to go

UPDATE 2-AMAG says FDA accepts anemia drug response; shares soar | Markets | Markets News | Reuters

**Aufan 1983** · #2 11-13-2008, 06:19 PM

WOW

Did a little checking on AMAG and per Bloomberg.com: Investment Tools

AMAG has a float of only 16.062 million shares with total shares at only 17.002 million.

Now for the WOW factor. The short interest is 4,075,627 which is about 25%. I'm betting that a majority of them didn't cover today and are waiting on what they think will be a major pullback. They will soon be forced to cover and some will probably even get margin calls forcing their hand.

This is going to be SWEET!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!

**BadThad** · #3 11-14-2008, 08:48 AM

You're probably correct here as far as the stock. Now....

This is the first I've ever, ever heard of the FDA giving an "approval date". I've been out of the industry for 11 years now and maybe somethings changed, but I just don't buy that date at all. All they did was submit an NDA, the FDA has six months to respond. The FDA could easily come back in Dec and say they need more items clarified in the NDA at which point AMAG has six months to respond. Each back and forth information exchange buys six more months. I've seen this go on for years.

**BadThad** · #4 11-14-2008, 09:11 AM

After some DD, I'm correct. This Dec date is simply an "action target date". That means the FDA will respond to the NDA by that date, nothing more. It doesn't mean they will grant approval.

**Aufan 1983** · #5 11-14-2008, 01:10 PM

Quote:

Originally Posted by BadThad

After some DD, I'm correct. This Dec date is simply an "action target date". That means the FDA will respond to the NDA by that date, nothing more. It doesn't mean they will grant approval.

Thanks BT. I'm going to hold some unless this baby makes a huge dive. I like the small float and the prospects look pretty good.