| Columbus Day Dash & Slash features DEPO, VVUS, ONCY and RDNT | | Print | |
| Written by M.E.Garza | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monday, 12 October 2009 00:00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The DepoMed management team organized a conference call to reassure investors that the news was not all bad, and they did a convincing job of conveying that message, but the street did not like what it saw anyway. The drop stung even more considering that just last week, the company announced top-line results from a Phase 3 clinical trial demonstrating DM-1796 (also referred to as gabapentin ER) achieved a statistically significant reduction in pain associated with postherpetic neuralgia (PHN) versus placebo using the baseline observation carried forward (BOCF) method required by FDA. We were flooded by e-mails asking us why shares of VIVUS, Inc. (Nasdaq:VVUS) were suddenly flying off the shelf early in the day. While some attributed the rise to new price targets from analysts, others said news may have leaked, but no concrete news items could be tracked. Then someone told us that CNBC's biotech guru Mike Huckman was commenting on today on the buy out of a small bio techs, pointing out that big pharmas are cash rich and patent poor. Time is short and the big pharmas can't afford to keep spending money on failed clinical trials as they search for the next blockbuster drug.That brings us back to Vivus, whose product pipeline includes three late-stage clinical products, each addressing specific components of the obesity, diabetes and sexual health markets. As subscribers to the BioMedReports FDA Calendar know, one of these investigational products, Qnexa, is in Phase III clinical trials for obesity and in Phase II clinical trials for diabetes. As such, the speculation is that VIVUS would make it a great takeover target. Shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) surged as the company gave it's corporate overview presentation at the 17th Annual BioPartneringReolysin uses a naturally occurring human reovirus in a process developed by Oncolytics. The company is focused on the development of oncolytic viruses as potential cancer treatments. Shares of RadNet Inc.(NASDAQ:RDNT) have been rising steadily since their early September low of $2.01. RadNet, Inc. operates a group of regional networks comprising 164 diagnostic imaging facilities located in six states with operations in California, Delaware, Maryland, the Treasure Coast area of Florida, Kansas and the Finger Lakes (Rochester) and Hudson Valley areas of New York.RadNet provides diagnostic imaging services, including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology, or X-ray, and fluoroscopy. Shares of the company closed at $3.24 +0.18 (5.88%). The company's strong financials have been steadily pushing it upward as they beat street estimates the last two quarters and the guidance for the third quarter calls for continued growth. Keep an eye on Vion Pharmaceuticals (OTC: VION). After the bell, Vion announced hat it had hired the investment banking firm Merriman Curhan Ford & Co. to assist in evaluating its strategic alternatives. These alternatives include any combination of a restructuring of the Company and its debt and a sale of the Company or its assets. The Company may also consider financing options. Recently, the Oncologic Drugs Advisory Committee (ODAC) of the U.S. Food and Drug Administration (FDA), voted in favor of Vion completing a randomized study defining the efficacy and safety of the Company's lead oncology therapeutic Onrigin (laromustine) Injection prior to receiving regulatory approval from the FDA. As Vion would need to raise additional capital to finance a new randomized trial, the Company is evaluating its strategic alternatives. If Vion is unsuccessful in achieving a restructuring, sale, financing or any other strategic transaction or combination thereof, it may have to consider curtailing or ceasing operations or liquidating its assets.Here are the rest of Columbus Day's Top Winners and Losers in healthcare:
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Jon Jones
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Trading was a little thin due to the Columbus Day holiday on Monday, and a breakdown in technical support levels caused some midsession panic, but the S&P 500 successfully logged its sixth straight gain- the best streak this year for the stock market. 
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... Based on techical analysis alone, VVUS (Vivus) looks good that it has formed a flag and pennant and seemingly has broken above the trend. Vivus has created the obesity medication Qnexa® which has been submitted to the FDA for approval. But be aware... the FDA could reject it. This would probably cause the stock to tumble. When would this happen, look towards the later part of 2010 to hear from the FDA according to. http://www.tesofensine-information.com/qnexa.html Also note that there are 3 other obesity medications that will all be under watch at the same time, those are Qnexa as well as Contrave and Lorcaserin. Keep an eye on how those fair as well... |
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