CLDA

Sometimes investing can be very frustrating. CLDA was north of $33, with buyout rumors swirling in the $40s. And then we get the news that they are being acquired at $30, plus up to another $6 cash based on future sales.

Huh???? With the stock at $33+?

Unfortunately the board and insiders own enough of the company that this will probably go through regardless of shareholder discontent. I sold all 600 shares in the Port24 this morning at $30.40. And I can't be too sad as we bought around $17 and made a couple bucks a shares in covered calls as well -- all in less than three months.

DCTH had bad news as well, with the FDA refusing their NDA filing. I will not sell these Port24 shares, since we have Europe coming up as another catalyst in the spring/summer. Too, Delcath will refile the NDA in the fall with the additional information requested. So this is a delay, and probably a buying opportunity overall.

Regards,
Trond