Was it a mistake?

As I mentioned, CBST was down dramatically (>15%) in the past couple of weeks. Should I have bought? I have some confidence in the company, it will turn profitable, and probably soon. But I didn't buy more of it while it was down. I have cash, but I had decided that I was as invested as I wanted to be in my One Up portfolio. In fact, I invested somewhat more than I had initially intended. The cash that I have is earmarked for my other two portfolios, which both have more regimented buying strategies. So was it a mistake not to buy into the downturn of CBST?

Similarly, NOVC has also plunged dramatically in the last few days, I'd guess around 40% or so. Today it gained back 12%. I have less confidence in NOVC than I do in CBST, but regardless, this looks like a bargain. Was this a one-day turnaround, or is it heading back upward? I have no confidence in timing the market, but Mr. Market just can't seem to make up his mind with these biotech stocks. What is the right move?