i may well be mad but...

after reading Drona's report and Chick's presentation yesterday, and once again going through the information that's available, i bought more AVX today.

AVX has treated me far from kindly, but i remain confident in the success of ATC for a number of reasons, not least of which is because - as most will be well aware - no HIV drug has undergone stage III trials and failed to go to market. also, competition in this area is light with ATC being only one of two HIV drugs currently undertaking stage III trials. of course, the clinical results so far have been excellent.

in my opinion, the floundering sp is due largely to the overall market malaise and therefore buying at this level is an opportunity to make a bundle. it has also been contributed to by the uncertainty around funding the last stages of the trials - but it looks like we're good to a smidgen into the third quarter, so that's reasonable breathing space

of course, there are risks buying in now - not least of which is the current market climate - and not waiting on information from the 96 week extension study in Q1 and 16 week stage III data in Q2, but i feel the price is cheap enough now to limit downside. moreover, if a deal or takeover were to emerge, then the sp is going a long way north of where it is now - and in a big hurry.

i'm betting on the ride ahead. and i guess i'm buying into Drona's call for trust in the board getting things right. i’ve once again rolled the dice.

-j