Intra-Cellular Therapies (“ITCI”) Stock Soars While Key Clinical Data Not Presented to Shareholders Looks Highly Disappointing

(July 15th, 2015) Biotech stocks have been on fire. And for good reason as numerous life-saving discoveries have come out of small, previously-unknown firms, making their owners rich many times over. But beneath the surface, a number of troubling drug development companies have caught the attention of investors with clinical data that’s dubious at best. With seemingly endless amounts of optimism, these biotech stocks have ridden the wave of investor enthusiam even when the data doesn’t look as promising as the market caps seem to indicate.

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All You Ever Wanted to Know About Retrophin But Were Afraid to Ask

(June 2nd, 2014) Humans, like atoms, abhor unsteady states of existence. Just like electron transport gravitates towards a steady-state, people gravitate towards peaceful lands and away from battleground areas. Read more

Know What to Buy When Putin Comes Knocking

So Putin rolls a bunch of tanks up to the Ukrainian border and the market slides a percent or so. In any other market that would be considered a yawn. But here in the good ‘ol US of A, where the average active investor can barely remember the dog days of ’08, few traders seem to have the skill set necessary to maneuver in a down market. Having done this for 20+ years, I thought it would be helpful to share my trading tips for when war comes knocking.
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Cutting Through all the Noise at Retrophin

I have to admit to a dilemma. Since purchasing a little over 1% fully-diluted of Retrophin, Inc. (Nasdaq: RTRX) last summer in the $4.50/sh PIPE and subsequently tweeting about the company, I’ve built up quite a number of readers who look to me for advice and analysis regarding Retrophin.

Since I and my family still own a very significant stake in the company, it would be unwise of me to write research on the company without highly qualifying my opinions as coming from someone who is deeply conflicted given our exposure to the equity. On the other hand, with Retrophin’s stock hitting all-time highs last week, it’s understandable why so many of my readers have reached out to me asking if now is the time to sell.

Like I have said numerous times, I cannot and will not give individual investment advice. However, I do believe readers of mine who have purchased Retrophin deserve to hear from me with an updated report summarizing my investment viewpoint on the company.

I have always said that Retrophin should be viewed as a “biotech hedge fund” with a hodge-podge of disparate assets. Some of these assets are very high risk and others much lower risk; the common thread is that the potential upside of the pipeline far outweighs the cash needed to push these products through clinical trials and into the marketplace.

With that in mind, I have written a piece analyzing the sum of the parts. In order that this research not be viewed as an attempt to create a frenzy in the market, I have password-protected the piece, for download only to my readership. If you wish to unlock the report, please email me a request for the password, acknowledging the following : (a) you are not relying on any information contained herein solely for the purposes of investing in Retrophin common stock; (b) you will not disseminate this research report to anyone and that you are downloading it solely for your own use; (c) you acknowledge that the author of this report and his family are directly and indirectly own shares of Retrophin and therefore the opinions contained herein cannot be viewed as free of any conflicts of interest.

Readers : Email me (using the email address at the top of this page) that you agree to the above, and you will get the password to the research report sent to you, which can be downloaded here : Cutting Through all the Noise at Retrophin


” Concentration is my motto – first honesty, then industry, then concentration. ” Andrew Carnegie