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 […]
August 20-EOD
There was really nothing special on the news front today but I guess we were getting a little spoiled with the VICL, MNKD, and GTXI data all coming out in the past week or so. The dramas are the same in terms of biotech valuations, what is happening with ONXX and AMGN, and so on. […]
August 19- EOD
Somewhat of a decent start to the week but unfortunately it appears like more of the same in term of general biotech sentiment and news flow. There are a couple of interesting notes but nothing that is significant enough to change the sentiment. 1. The biggest individual mover today was GTXI as it announced the […]
August 16- EOD (kind of)
This is a Friday in August and so it is not surprising that it was light on the news front as well as it being another low volume chop fest. That being said biotechs seemed to be getting their footing more so than earlier in the week but it is still very difficult to tell […]
August 15- EOD
Markets started off weak again and biotechs followed down. Outside of the conference call from MNKD there was not much news in terms of data. Perhaps it is this lack of near term catalysts coupled with running too far too fast that is dragging biotechs. Regardless, it is more of the same. 1. The news […]
August 14- EOD
The big news of the morning at least was the MNKD data and all we need now is GTXI to complete the trifecta. The markets were a little better in that biotechs did not seem as weak, although I would not say are quite turning the corner. In fact, as the market turned down it […]
Week’s Option Activity (8/5~8/9)
The following stocks had notable activity in their options during the past week: $PBTH (8/7): Active day in the Calls. 500 AUG 5.0 strike Calls (stock at $6.86) were purchased for 2.05 or $102,500 – buyer makes money if stock trades north of $7.05 by August expiration. Also, 500 FEB14 7.50 strike Calls were sold […]
August 13- EOD
Very little news of interest today. The markets continue to be a low volume chop fest with biotechs tending to bear the brunt of the selling. I think a lot of the bios are going to need to see their 50 or 200 day moving averages before finding significant support and I would not be […]
Three European biotech companies building value through partnerships
Galapagos NV Galapagos (Brussels: GLPG; Pink Sheets: GLPYY.PK) is a Belgian biotech company whose lead product is JAK1 inhibitor GLPG0634 for rheumatoid arthritis (RA) and Crohn’s disease (CD). Jason covered the drug in this article. Since then, the company has presented more data at various forums; the latest was EULAR in June. They have multiple […]
August 12- EOD
It looks like we are setting up to have a week of data releases with VICL today and perhaps both GTXI and MNKD later this week. It should generate some interest but none of these will likely affect biotech sentiment writ large, so they should remain stock specific stories. That being said it looks like […]
