TOP 100 MEDICAL SITES
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| GTx Has to Reevaluate Options Following Prostate Cancer Drug Failure EP Vantage submits:GTx’s (GTXI) main shot at redemption for its lead pipeline candidate, toremifene (acapodene), failed to deliver with the release Tuesday night of phase III data that showed no significant reduction in the risk of developing prostate cancer in patients with a premalignant lesion.Having already failed to convince the FDA of the drug’s effectiveness and safety in preventing bone fractures in men undergoing prostate cancer treatment (FDA words not sticks and stones hurt GTx’s bone drug, November 2, 2009), the results from this three-year, 1,600 patient study could have provided a major boost to toremifene’s prospects. Instead, GTx’s shares slumped 31% to a record low of $2.09 in early trade Wednesday, valuing the company at $76m, a major fall from grace having been worth $450m just six months ago.Complete Story » seekingalpha.com |
AACC Meeting Buzz Fuels Rally in Diagnostics Rod Raynovich submits:The July 25-29 AACC (American Association of Clinical Chemistry) Meeting in Anaheim will have close to 20,000 clinical lab professionals and over 500 exhibitors. A stock rally in the sector was ignited last week by earnings announcements from four major mid-cap players, and new product and technology news should help support the rally. As of mid a.m. trading on Monday, many diagnostic stocks were up 2% with the S&P up 0.9%.Here is a financial summary from last week's earnings announcements:Complete Story » seekingalpha.com |
New Hepatitis Therapy Could Be Vertex's Windfall The Burrill Report submits: By Michael FitzhughVertex Pharmaceutical (VRTX) says a new trial shows that its late-stage hepatitis C therapy, telaprevir, can help some people tackle the virus in half the time the current treatment takes. A quicker cure, one slashing typical treatment times to 24 weeks from 48 weeks, could help millions of infected people stick to their treatment regimens and represent a windfall for Vertex. Complete Story » seekingalpha.com |
Immucor Cuts Guidance on Lower Demand Rod Raynovich submits:The stock is down over 18% at 3p near $16.5 on 7M shares. A "Pure Play "Immunohematology Diagnostic CompanyComplete Story » seekingalpha.com |
Trying to Get a Handle on Savient Pharmaceuticals' Valuation David White submits:Savient (SVNT) announced in May that it would try to find a buyer after its gout drug, Krystexxa, gained FDA approval. That day finally came Sept. 14, 2010. Savient looked for a buyer, but on Oct. 25, 2010 Savient announced that it had not found a buyer. The shares of Savient plunged on this news. They fell further Tuesday as short sellers continued to try to push the stock down.However, Savient has likely already fallen more than enough to make it a good bargain. It is the same company that was selling for $22/share a few days ago. There have been no accounting irregularities. No new problems with the drug have been discovered. A law suit filed against Savient was dismissed in U.S. District Court on Sept. 30. No stock is perfect, but this one looks like it should return good profits over the long term (and perhaps short term). The gout drug, Krystexxa, has been designated an “orphan drug” by the FDA. This means Savient can sell it without competition for 7 years. Savient also gets some tax incentives.Complete Story » seekingalpha.com |