Kyle Dennis of BiotechBreakouts.com looked back at Oncosec Medical (ONCS) and Melinta Therapeutics (MLNT) in the Raging Bull podcast, noting that OncoSec moved exactly as he forecast through recent catalysts, allowing him to pocket a nice profit even though he left money on the table when the stock accelerated through the data event. Dennis prefers to exit stocks ahead of catalyst events, but because of the price action through the data release he noted that he expects OncoSec to build off of the strength of the last announcement to take another leg up the next time it has a significant data catalyst.
Dennis also revisited Cempra, an antibiotics maker that was going through a reverse merger with Melinta Therapeutics; after getting knocked back when the deal went through, Dennis is now expecting Melinta — the merged company — to take a leg up on its next data release, which is why he put the stock on his watch list this week looking for an appropriate entry point for a move that he thinks could reach $14 per share in the next six weeks.

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Kyle Dennis is an events-based trader who runs Kyle Dennis’ BiotechBreakouts.com. He had no shares, options or open orders in either ONCS — having traded it profitably based on a recent catalyst — or MLNT when this interview was recorded on Nov. 9. He had added MLNT to his watch list earlier this week. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

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