Antares (ATRS), Ibio (IBIO), MannKind (MNKD), Pluristem (PSTI)

We had common stock in some smallish biotech plays:

• Antares 400 shares
• Ibio 2,900 shares
• MannKind 900 shares
• Pluristem 700 shares

Then MannKind, which is now our favorite speculation in the market, raised money with a secondary offering and the price took a beating.

So we sold:

• Antares 400 shares ($2,128 basis/ $1572) = -$556, -26.1%
• Ibio 2,900 shares ($2,668 basis/ $3045) = +$377, +14.1%
• Pluristem 700 shares ($2,366 basis/ $2,772) = +$406, +17.2%

And used those $7,389 in proceeds to pick up 3,750 more shares of MNKD at $1.97, making it our largest position.

MannKind 4,650 shares ($9,745 basis/ $8,695) = -$1,050 -10.8%

We will have more to say about MannKind, but we like it quite a bit and think getting in under $2 is going to look very good over the next 18 months.

http://seekingalpha.com/article/961391-33-000-portfolio-mostly-cash-ahead-of-elections-and-snow-hurricanes