BIO CEO and Investor Conference Feb 14-15
Biotechnology stocks picked up some buying interest today from the BIO CEO Conference in NYC. CNBC provided some CEO clips from Exelixis (EXEL $10.58) up 7%, Onyxx(ONXX $36.28) up 0.28% and Optimer (OPTR $11.61) up 2.83%. Onyyx is a cancer drug developer and recently received “fast track status ” for its experimental blood cancer drug Carfilzomib. Barron’s reported on Jan 31 that Onyyx might be an acquisition target for big pharma. Exelixis has been in the Rayno Life Science Biopharma Portfolio since 9/2 at a price of $3.30 an appreciation of 220%.The Company recently trimmed R&D expenses to focus on its Phase 3 cancer drug XL 184 which inhibits growth of tumor cells and vascularization.Optimer (OPTR) has a new class of antibiotic Fidaxomycin to treat C.difficile or CDI, which is currently under six month priority review with a goal date of May 30,2011. The Company has another antibiotic prulifloxacin in its pipeline.
The Rayno Mid Cap Index of 35 biotech stocks is up 0.7% today. Other movers on volume today are Alkermes (ALKS) up 2.2%, Clinical Data(CLDA) up 5.1%, PDL(PDLI) up 5.77%, Sangamo (SGMO) up 4.8% and Savient (SVNT) up 4%.
Ariad (ARIA) up 2.2% is now on CNBC
The 12th ABIO CEO 2011 – Exclusive Investor Conference for Emerging & Public Biotech Companies in NYC
BIO CEO 2011 – Exclusive Investor Conference for Emerging & Public Biotech Companies in NYC
Drug Stocks Counter Trend-Shed Non-Core Business?
Barron’s Feb 14 sees value in selected drug stocks such as Abbott( ABT), Medtronic (MDT) and Pfizer(PFE)as well as Europeans Glaxo (GSK),Novartis (NVS) and Sanofi (SNY). The industry paradigm for diversification, JNJ has been disappointing lately with consumer health recalls and patent issues.
Abbott, Medtronic and Others Should Spin Off Units – Barrons.com