Progenics Pharmaceuticals, Inc. (PGNX) -Nasdaq Since my latest “Chart & TA” report “PGNX – A Hidden Bullish Divergence” on Aug 22nd, 2013. PGNX has been trading up and gained 33% in just 9 trading days, breaking out several resistance lines as I predicted in the last TA report What’s Next The price at this level around the […]
September 5- EOD
As I noted before, Tuesday and Thursday will likely be shorter updates given my schedule but there is some important news that came out for some companies that I want to touch on. The market still seems to be looking for a direction but in general it seems like sentiment is improving. Certainly something we […]
AMRN – Another Breakout – Chart Update
Amarin Corporation plc (AMRN) -Nasdaq Since my latest “Chart & TA” report AMRN – Running Up To The AdCom on Aug 30th, 2013. AMRN kept trading up and gained 4.7% , reaching the downtrend line (brown color on the chart) around $6.65. There we witnessed a real control’s war between the bulls and the bears around 12:15 […]
September 4- EOD
There was some nice action in biotech land today despite not being particularly busy in terms of news. There was some interesting stock specific action and the sector was a mixed bag. Stocks without specific news tended to underperform but not universally so. The next couple of months will be interesting as volume will likely […]
RPTP – New All Time High
Raptor Pharmaceuticals Corp. (RPTP) -Nasdaq Opportunity knocks all the time, but you have to be ready for it. If the chance comes, you must be ready and quickly respond to take advantage of it. On Aug 29. 2013 Gravity Research initiate a bearish report “Initiating Coverage on Raptor Pharmaceutical Corporation (NASDAQ:RPTP) – Strong Sell” causing a […]
CADX – USPTO deals blow to Cadence
On August 15th, the United States Patent and Trademark Office(USPTO) released their initial office action in response to the Ex Parte Re-examination of U.S. Patent No. 6,028,222. This was done after a 3rd party requested the USPTO re-examine the claims of the patent. The company’s press release failed to convey the seriousness of what occurred, […]
CYTK – Flash note on ATOMIC-AHF data
Today, Amgen (NASDAQ: AMGN) and Cytokinetics (NASDAQ: CYTK) reported data from the Phase IIb ATOMIC-AHF study of i.v. omecamtiv mecarbil (OM) in patients with acute heart failure. As we hypothesized in this piece, only the high dose met the primary endpoint of improvement of dyspnea (breathlessness) after 48 hours, albeit due to a markedly lower […]
September 3- EOD
I am going to try and cover what was a fairly busy day in biotech land but Tuesday and Thursday will necessarily be shorter than usual. The semester has started again and I spend most of Tuesday and Thursday teaching, which does not provide as much time to write notes but I will still provide […]
Week’s Option Activity (8/26~8/30)
The following stocks had notable activity in their options during the past week: $IMMU (8/26): Big activity in JAN14 Calls. 1,949 JAN14 5.0 strike Calls (stock at $6.15) were purchased for 1.60 or total cost of $311,840. Buyer makes money as long as stock is greater than $6.60 by JAN14 expiration. Also in a separate […]
August 30- EOD
Well, perhaps this is the last time I will write this for awhile but a slow day in the market and news front. I guess it makes sense as the last day of trading before the long Labor Day weekend but still not a lot to talk about at all. The only notable action was […]
AMRN – Running Up To The AdCom
Amarin Corporation plc (AMRN) -Nasdaq The price closed above the 100-Day moving avarage and the $6.34 resistance line, while the indicators still positive and wants more upside. The next important line to breakout is the Brown downtrend line around $6.70 that will make the weekly resistance line at $7.56 as the next target. Expect some technical correction […]
August 29- EOD
We got a trickle of some interesting biotech news but still nothing dramatic. I suspect that the pace will increase in September as the summer ends and the fall healthcare conference season begins. 1. PCYC announced the acceptance of the NDA for previously treated mantle cell lymphoma (MCL) and previously treated chronic lymphocytic leukemia (CLL)/small […]
August 28- EOD
Again, it is a quite day in the biotech realm as the market essentially treads water waiting for the strike on Syria before deciding on its next direction. The market was strong early on and then seemed to fade alter in the day and for the most part it seems that biotechs either followed the […]
August 27- EOD
I have bemoaned about slow days before but very little biotech news today. I will do some more macro Syria coverage and some tidbits from the biotech world. That being said, I think the market is heading into a time that will be driven more by macro issues than stock specific fundamentals. 1. It seems […]
RTRX – Notes on Retrophin’s PKAN program
August was a month full of news for Retrophin (RTRX): financing, PR on preclinical results of their PKAN candidate (RE-024), PR on agreement to negotiate a candidate for autism and schizophrenia. In addition, rumors came out on Alexion making an offer for $10 a share, motivated by the strong preclinical results of RE-024. All this […]
August 26- EOD
The week is off to a good start with the end of the ONXX/AMGN saga and some strong moves in biotech land. There is not a lot of stock specific stories, so this is mainly going to focus on some macro issues both within biotech land and outside. 1. I want to start with the […]
August 22- EOD
A quiet day after the relatively interesting data release of INCY yesterday. Of course, it was forced quiet as the market broke for most of the day. There is really not much new to talk about outside of some positive sentiment in the sector (see the ONXX/AMGN discussion below). Outside of that it is more […]
Week’s Option Activity (8/19~8/22)
The following stocks had notable activity in their options during the past week: $AMRN (8/19): 5,000 OCT 7.0 strike Calls (stock at $6.00) were sold for 0.87 or $435,000 total proceeds. Seller makes money as long as stock trades below $7.87 by expiration. This trade may also be a current long stockholder selling Calls to […]
PGNX – A Hidden Bullish Divergence
Progenics Pharmaceuticals, Inc. (PGNX) -Nasdaq On June 11, 2013 Progenics and Salix (partner) announced an FDA Advisory Committee (AdCom) is scheduled to review Relistor sNDA for opioid-induced constipation(OIC) in patients with chronic pain. On July 27, 2012 Salix (SLXP) and Progenics received CRL from the FDA regarding the RELISTOR sNDA. But Slaix filed a formal appeal […]
August 21- Midday
There was certainly some interesting news today with INCY and I wanted to spend time going through the results as they actually raise as many questions as answers. I also wanted to put out my EOD early (so there will not be one after the market closes) in case some of you were interested in […]
