Intermune(ITMN) up 60% on Panel Go-Ahead
The FDA Panel of lung experts voted 9-3 in favor of approval of Intermune's drug perfenidone for idiopathic pulmonary fibrosis. The stock was 15 at the end of February(see raygent.com last week) and reached 37 after hours tonite.. The IBB (biotech ETF) should exceed a Five Year high tomorrow...
Why Healthcare Reform is So Difficult
There is a simple reason why healthcare reform is so hard to do-there has to be winners and losers. We have had many months of discussion on how to pay for healthcare reform such as cuts in Medicare, concessions from Big Pharma, more competition across state lines, tax on "cadillac" insurance...
Biotech MoJo Risin’ with InterMune Surge
The rally in biotech is back with lots of help from InterMune (ITMN).The stock was up over 60% to 23 this am after the Company posted briefing documents for the March 9 Pulmonary-Allergy Drugs Advisory Committee(PADAC) meeting to review the NDA for pirfenidone (Esbriet) for treatment of...
Medivation hangover -stock stable
Despite a bunch of way-too-late analyst downgrades (JPMorgan, Roth, Hapoalim) MDVN stock is up 1%+ at $13.25 on volume of 8.8M shares. But there are two interesting articles coming out of the Medivation drama: Robert Langreth writing in Forbes offers the potential of better results on two...
Medivation Chills Biotech Sector
Medivation (MDVN) released disappointing Phase III results for its Alzheimer drug, known as dimebon, saying that the drug was ineffective in treating cognitive decline or behavioral disorders. The stock plunged 67% to 13 as of midday trading on Wednesday. In a joint release Medivation and its...