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ALOG - Benchmark Upgrades Analogic (ALOG) to Buy on Valuation and Turnaround in Medical Equipment
7:33 am ET 05/25/2010- StreetInsider
Benchmark upgrades Analogic (Nasdaq: ALOG) to Buy. Price target $50. Benchmark analyst says, "Analogic has the potential to achieve double-digit revenue growth and operating margin by FY12. Our upgrade is based on several factors including valuation, medical equipment turnaround and expansion in digital mammography and specialized ultrasound...A Medical recovery appears on track; operating efficiency could drive doubledigit margins." To see all the upgrades/downgrades on shares of ALOG, visit our Analyst Ratings page. Analogic Corporation (Analogic) is a technology company that designs and manufactures medical imaging and security systems and subsystems
GENZ - FDA approves lumizyme for late stage Pompe disease
GENZ - FDA approves lumizyme for late stage Pompe disease
Me too. fwiw I'm optomistic. Noticed that none of the mkt's major indexs had experienced any organized or orderly test of Feb's low's and the levels of the flashcrash didnt count except to act as a magnet for that orderly downtrend since it reached those exact feb low points. We outlast the day and then its my suggestion we stablize and regroup.
All the noise of any issue involving Euro/Europe/US govt/Koreas/Oil spill/etc has been shouted from the rooftops of every fkn MSM for almost 2 solid weeks and helping to make this happen. Be interesting to see if their cries of "fire" temper in next 48 hrs. Hell I was pleasantly suprised we were only off 127 yday w/ all the "baaad" news. .
Meanwhile i'm using dry powder to trade any bounces, CREE for ex.
glta
polyanna
hehe
WallStarb - would you mind expanding on your thoughts regarding
" Might be a decent area in the next day or so to take a dead cat bounce long - but I think that based on China's chart we may have hit the highs for a while off the March 2009 lows. "
I know I'm not alone when I say your insights are highly regarded by many.
TIA
S
DCTH strong bounce
Great move, did exactly the same thing on Fridays dip to here.
then trade off the lows for the bounces, be nimble, use dry powder to grab opportunities...
don't get caught sitting, watching any declines and opining about how bad it is otherwise it will shake your confidence and ability to execute as a trader or wise investor.
Added ECTY, Gsat holding nicely!
Grabbed CREE @ $60
SQNM - Barclays raised PT to $9
SQNM - Barclay's raised pt to $9
Continuing to build position in ECTY (formally ELTE) initially posted 4/30
Ecotality (ECTY as of yday - formally ELTE). They're making electric car charging stations (large scale). Initially i was intrigued by it's tiny float (6M) and picked up a few shares. It moves when the wind blows. Held nicely through all the latest market noise and today White House announced new/more stringent auto fuel standards initiative.
Here's a pretty good summary and DD I found online. Please note I am not familiar w/ or affiliated w/ the site/source but all their talking point are verifiable...Thanks for your input.
S
www.thegreenbaron.com/Stock%20Pick%20Pro...
"ECOtality, Inc. (OTCBB: ETLE) is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels.
As the parent company of Electric Transportation Engineering Corporation (eTec) Innergy Power Corporation, and Fuel Cell Store, ECOtality offers solar, hydrogen, fuel cell, advanced battery, electric vehicle and fast-charging products, services and solutions. ECOtality’s main operating subsidiary, eTec, has more than 50 international patents related to its industry-leading fast charge technology and has provided infrastructure for every major North American electric vehicle initiative since 1989.
The Green Baron Report believes ECOtality (BB: ETLE) is attractive for members for a long list of reasons. Below, we have listed our top ten:
1. The EV Project - $99.8 Million U.S. Grant from the Department of Energy - On August 5, 2009, ECOtality's subsidiary, eTec, was awarded a grant of $99.8 million from the US Department of Energy to undertake the largest deployment of electric vehicles (EVs) and charging infrastructure in history. The Electric Vehicle (EV) Project will include the deployment of 10,950 Level 2 (220V) chargers, 260 Level 3 fast-chargers and 4,700 Nissan LEAF zero-emission electric vehicles in five states: Arizona, California, Oregon, Tennessee, and Washington.
2. eTec’s Minit-Charger – This line of fast battery charging systems enables a more environmentally-friendly, energy- and cost-efficient means to recharge batteries for electric vehicle (EVs and PHEVS), mobile material handling, airport ground support, and marine and transit applications. eTec’s Minit-Charger technology provides the fastest charge possible while improving overall battery life, preventing overcharging, reducing the need for multiple batteries, and eliminating air and noise pollution.
3. Recent Restructuring – Late last year, ECOtality raised $20.5 million in equity financing from various institutional investors. In addition to the capital raise, the debenture holders agreed to convert all $9.1 million of existing debentures and related warrants into equity. ECOtality then completed a 1:60 reverse split of its shares that now trade under its new symbol ETLE.
4. Filing to List on NASDAQ – Back on February 16, it was announced that ETLE filed to gain a listing on the NASDAQ. ECOtality would gain tremendous exposure from additional investors in The United States and worldwide.
5. China Venture’s Access to $300 Million Financial Facility – On March 1, it was announced that ECOtality JV partner in China, Shenzhen Global Investment Limited, obtained a credit agreement with China Construction Bank, and has committed to provide up to U.S.$300 million for product financing of ECOtality’s networked electric vehicle (EV) charging systems in global markets. ECOtality’s CEO stated, ‘”This is a major milestone for creating value for our shareholders as it provides us the capital needed to become the dominant player in the EV marketplace with no current dilution to our shareholders."
6. Innergy Power – This ECOtality subsidiary is the only North American manufacturer of both renewable energy solar modules and rechargeable batteries, and its solar photovoltaic (PV) product line addresses the burgeoning worldwide demand for solar energy products and off-grid power. This division should see huge revenue growth as America goes green.
7. Growth in Electric Vehicles and High Price of Oil – Electric, hydrogen and hybrid powered vehicles are coming. Tesla, Nissan, Mitsubishi, Dodge, Ford and Audi are just a few auto makers that have aggressive plans to roll out electric and green energy run vehicles in the coming years. ECOtality plans to be positioned to fulfill the need to power these cars. Also, the price of oil has just skyrocketed again to nearly $90/barrel. The coming high price of gasoline will likely weigh heavily again on consumers looking for alternatives.
8. FuelCellStore.com - Based in San Diego, California and with active international operations in Japan, Russia, Italy, and Portugal, Fuel Cell Store develops, manufacturers, and sells a diverse and comprehensive range of fuel cell products including fuel cell stacks, systems, component parts and educational materials.
9. Recognition by President Obama and Energy Secretary Chu – In late January, U.S. President Barrack Obama recognized ECOtality in this State of the Union address and Energy Secretary Steven Chu at The Washington Auto Show. The U.S. government has clearly shown its support to ECOtality through its words AND dollars.
10. Low Market Cap Relative to Market Size – The energy market and the products that create and distribute it is simply massive. There will be many winners in the race to deliver quality products in green energy. We believe ECOtality is solidly positioned to be among the biggest winners, and with a current market cap of only about $30 million it is dirt cheap in our opinion.
Electric motors are energy efficient, environmentally friendly, have performance benefits, and reduce energy dependence. However, most EV’s can only go about 100 to 200 miles before recharging, can take hours to recharge, and the battery can be expensive, heavy and large.
The Solution: ECOtality envisions a future in which its proprietary fast charge technology, Minit-Charger, will be available to EV owners at convenient locations such as the shopping mall, the supermarket, or the park. The Minit-Charge technology can provide a safe and meaningful charge for an EV in approximately 15 minutes. Car and battery manufacturers are quickly making advancements by creating smaller and lighter batteries capable of powering vehicles for a longer distance."
Continuing to build position in ECTY (formally ELTE) initially posted 4/30
Ecotality (ECTY as of yday - formally ELTE). They're making electric car charging stations (large scale). Initially i was intrigued by it's tiny float (6M) and picked up a few shares. It moves when the wind blows. Held nicely through all the latest market noise and today White House announced new/more stringent auto fuel standards initiative.
Here's a pretty good summary I found online. Please note I am not familiar w/ or affiliated w/ the site/source...Thanks for your input.
S
www.thegreenbaron.com/Stock%20Pick%20Pro...
"ECOtality, Inc. (OTCBB: ETLE) is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels.
As the parent company of Electric Transportation Engineering Corporation (eTec) Innergy Power Corporation, and Fuel Cell Store, ECOtality offers solar, hydrogen, fuel cell, advanced battery, electric vehicle and fast-charging products, services and solutions. ECOtality’s main operating subsidiary, eTec, has more than 50 international patents related to its industry-leading fast charge technology and has provided infrastructure for every major North American electric vehicle initiative since 1989.
The Green Baron Report believes ECOtality (BB: ETLE) is attractive for members for a long list of reasons. Below, we have listed our top ten:
1. The EV Project - $99.8 Million U.S. Grant from the Department of Energy - On August 5, 2009, ECOtality's subsidiary, eTec, was awarded a grant of $99.8 million from the US Department of Energy to undertake the largest deployment of electric vehicles (EVs) and charging infrastructure in history. The Electric Vehicle (EV) Project will include the deployment of 10,950 Level 2 (220V) chargers, 260 Level 3 fast-chargers and 4,700 Nissan LEAF zero-emission electric vehicles in five states: Arizona, California, Oregon, Tennessee, and Washington.
2. eTec’s Minit-Charger – This line of fast battery charging systems enables a more environmentally-friendly, energy- and cost-efficient means to recharge batteries for electric vehicle (EVs and PHEVS), mobile material handling, airport ground support, and marine and transit applications. eTec’s Minit-Charger technology provides the fastest charge possible while improving overall battery life, preventing overcharging, reducing the need for multiple batteries, and eliminating air and noise pollution.
3. Recent Restructuring – Late last year, ECOtality raised $20.5 million in equity financing from various institutional investors. In addition to the capital raise, the debenture holders agreed to convert all $9.1 million of existing debentures and related warrants into equity. ECOtality then completed a 1:60 reverse split of its shares that now trade under its new symbol ETLE.
4. Filing to List on NASDAQ – Back on February 16, it was announced that ETLE filed to gain a listing on the NASDAQ. ECOtality would gain tremendous exposure from additional investors in The United States and worldwide.
5. China Venture’s Access to $300 Million Financial Facility – On March 1, it was announced that ECOtality JV partner in China, Shenzhen Global Investment Limited, obtained a credit agreement with China Construction Bank, and has committed to provide up to U.S.$300 million for product financing of ECOtality’s networked electric vehicle (EV) charging systems in global markets. ECOtality’s CEO stated, ‘”This is a major milestone for creating value for our shareholders as it provides us the capital needed to become the dominant player in the EV marketplace with no current dilution to our shareholders."
6. Innergy Power – This ECOtality subsidiary is the only North American manufacturer of both renewable energy solar modules and rechargeable batteries, and its solar photovoltaic (PV) product line addresses the burgeoning worldwide demand for solar energy products and off-grid power. This division should see huge revenue growth as America goes green.
7. Growth in Electric Vehicles and High Price of Oil – Electric, hydrogen and hybrid powered vehicles are coming. Tesla, Nissan, Mitsubishi, Dodge, Ford and Audi are just a few auto makers that have aggressive plans to roll out electric and green energy run vehicles in the coming years. ECOtality plans to be positioned to fulfill the need to power these cars. Also, the price of oil has just skyrocketed again to nearly $90/barrel. The coming high price of gasoline will likely weigh heavily again on consumers looking for alternatives.
8. FuelCellStore.com - Based in San Diego, California and with active international operations in Japan, Russia, Italy, and Portugal, Fuel Cell Store develops, manufacturers, and sells a diverse and comprehensive range of fuel cell products including fuel cell stacks, systems, component parts and educational materials.
9. Recognition by President Obama and Energy Secretary Chu – In late January, U.S. President Barrack Obama recognized ECOtality in this State of the Union address and Energy Secretary Steven Chu at The Washington Auto Show. The U.S. government has clearly shown its support to ECOtality through its words AND dollars.
10. Low Market Cap Relative to Market Size – The energy market and the products that create and distribute it is simply massive. There will be many winners in the race to deliver quality products in green energy. We believe ECOtality is solidly positioned to be among the biggest winners, and with a current market cap of only about $30 million it is dirt cheap in our opinion.
Electric motors are energy efficient, environmentally friendly, have performance benefits, and reduce energy dependence. However, most EV’s can only go about 100 to 200 miles before recharging, can take hours to recharge, and the battery can be expensive, heavy and large.
The Solution: ECOtality envisions a future in which its proprietary fast charge technology, Minit-Charger, will be available to EV owners at convenient locations such as the shopping mall, the supermarket, or the park. The Minit-Charge technology can provide a safe and meaningful charge for an EV in approximately 15 minutes. Car and battery manufacturers are quickly making advancements by creating smaller and lighter batteries capable of powering vehicles for a longer distance."
doubled up ALXA (3.07) on strength thru 50dma
Don't most of the effects of the options expiration occur at the open of the market? If so we are just treading water here awaiting the next catalyst to confirm a direction.
W/ gov't action providing most of these catalyst lately, I'm still leaning toward the notion that nothings changed since yday. Concerned that following the german parliments approval of the euro rescue bill there is no bounce in the euro and their mkts.
An orderly test of the "flash crash" low in S&P still not in place, imho. While there's flippant commentary that we tested it on the open today, I still stuck on the notion that those afraid to hold thru the weekend will force a weak close or at least an orderly retest of that S&P 1050 "support". Thoughts?
plz correct me if im wrong. tia
s
Your right mo, please disregard....
man I have got to quit eating paint chips
Got CREE, POZN, ALXA, and SNSS on my bounce list in addition to several of those you mentioned, thx
glta
S
We have similar holdings...I let go my solar holding and have been gathering ECTY (formally ELTE) for the green car play, small float. They are electric transportation and storage technologies co. w/ charging stations in US and now in bed w/ china/japan for same. The float so small (6 mill) that they move when the wind blows.
ECTY DD is best summarized at this link...I do not know about the websites track record and am not affiliated w/ it but they did a nice summary.
http://www.thegreenbaron.com/Stock%20Pick%20Profiles/Stock%20Profiles%20ECOtality,%20Inc.%20(ETLE).htm
don't suppose there are any shareholder perks beyond dividends, eh...
OT - Think I'll rent "The MATRIX" tonight, lol eom
Giant Bear Raid?? after looking @ what happened yday and comparing it to what happended to POZN last Thursday, the similarities are eerie and offer way to much for this fat heat to grasp.
What if?
It's a good thing I already drink, but I'm afraid I may take up another vice while I ponder this....smoking, methamphetamines, crack, lsd are all possibilities, lolol.
btw one of the best reads on yday events can be found here:
http://seekingalpha.com/article/203702-business-as-usual-on-fat-finger-friday
Try and have a good weekend all, see ya Monday!
glta
s
GENZ $2B share buyback announced
kei - NBD, we just saw how quickly a good board works
now drop and give us 25 ;^)
s
IPCI ?? Im confused...
could someone clarify plz? My read on the posted article is that only a legal hurdle was cleared by ICPI and Par and that they have yet to recieve any FDA approval for a generic Focalin XR(R). have they even filed w/ FDA yet?
tia
s
ARIA 2 midday upgrades(breanMurray,Lazard) w/ PT=$5
ARIA got 2 midday upgrades(BreanMurray,Lazard) w/ PT=$5
ARIA got 2 midday upgrades(BreanMurray,Lazard) w/ PT=$5 to spark this run
ETLE - Anyone familiar w/ it? Been watching all week from a volume alert friday. Veeeeery low shares out - only 5.3Mil. farts.
Interesting technology and timing wrt oilspill/electric cars/think green/blahblah...BUT it is gaining traction in pps, vol.
http://www.ecotality.com/
I don't know this site or it's rep but it has a great summary of DD:
http://www.thegreenbaron.com/Stock%20Pick%20Profiles/Stock%20Profiles%20ECOtality,%20Inc.%20(ETLE).htm
Thoughts appreciatied
S
ETLE - 5.3 Mil shares outstanding, anyone familiar w/ it?
ETLE - took small position. look @ chart.
Been watchting all week from a volume alert. Veeeeery low shares out (only 5M), moves if someone farts.
http://www.ecotality.com/
I don't know this site or it's rep but it has a great summary of DD:
http://www.thegreenbaron.com/Stock%20Pick%20Profiles/Stock%20Profiles%20ECOtality,%20Inc.%20(ETLE).htm
board input/thoughts appreciated
S
ETLE - not sure if it fits the seasonality profile but look @ chart. Been watchting all week from a volume alert. Veeeeery low shares out (only 5M), moves if someone farts.
http://www.ecotality.com/
I don't know this site or it's rep but it has a great summary of DD:
http://www.thegreenbaron.com/Stock%20Pick%20Profiles/Stock%20Profiles%20ECOtality,%20Inc.%20(ETLE).htm
Thoughts appreciatied
S
anyone like ONCY for ppl?
POZN - Good Article in Local Rag this morning
http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html
POZEN Eager For Drug Approval
Pozen reported that its losses narrowed in the first quarter, but Wall Street and top management remained fixated on whether regulators will give the green light to the Chapel Hill company's experimental arthritis drug.
The Food and Drug Administration is expected to rule as soon as today on the company's application for Vimovo, which would be marketed by the drug giant AstraZeneca if it should win approval. The go-ahead from the FDA would give Pozen a second product, a benchmark few of the Triangle's small drug companies have attained.
"This is a game-changing event coming up for us," CEO John Plachetka told analysts during a conference call Thursday.
Analyst Jonathan Aschoff of Brean Murray, Carret & Co. projects that annual worldwide Vimovo sales could peak at $800 million, generating about $80 million in royalty revenue for Pozen. By comparison, Pozen's revenue from royalties and milestone payments totaled $32.2 million for all of last year.
Pozen shares closed Thursday at $12.08, up $1.13. Shares have nearly doubled since the beginning of March, driven largely by anticipation of a positive outcome for Vimovo.
The stock would undoubtedly take a significant hit if the FDA delayed its ruling or raised concerns about Vimovo.
The medicine would be "the first new oral arthritis drug introduced in quite some time," if it wins approval, Plachetka said.
"Obviously, we're going to be very happy if it is approved, extremely disappointed if it isn't approved," Plachetka said in an interview Thursday afternoon.
Revenue generated from Vimovo sales would be a 10 percent royalty on U.S. sales, with varying rates in foreign markets. Pozen also stands to reap considerable revenue from milestone payments from AstraZeneca.
In the short term, that includes $20 million upon FDA approval, plus $25 million when the drug wins government approval in a major foreign market. That could happen in Europe as soon as the second half of this year, according to AstraZeneca.
Longer-term, Pozen could receive up to $260 million for achieving sales performance milestones.
Plachetka referred questions about the pricing of Vimovo and sales projections to AstraZeneca.
AstraZeneca spokeswoman Sandra Heinig said that, if approved, Vimovo would be available this summer.
But she said the company considers pricing and sales projections to be proprietary information.
In the first quarter, Pozen posted a $3 million loss, or 10 cents per share, versus a loss of $3.5 million a year ago.
Revenue, which includes royalties from its migraine drug Treximet, totaled $6.9 million, versus $8.8 million a year ago.
Royalties from Treximet, which is marketed by GlaxoSmithKline, totaled $3.8 million, up from $1 million a year ago - thanks mostly to its royalty rate's more than tripling to 18 percent.
david.ranii@newsobserver.com
Read more: http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html#ixzz0maV82XSW
POZN - Good Article in Local Rag this morning
http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html
POZEN Eager For Drug Approval
Pozen reported that its losses narrowed in the first quarter, but Wall Street and top management remained fixated on whether regulators will give the green light to the Chapel Hill company's experimental arthritis drug.
The Food and Drug Administration is expected to rule as soon as today on the company's application for Vimovo, which would be marketed by the drug giant AstraZeneca if it should win approval. The go-ahead from the FDA would give Pozen a second product, a benchmark few of the Triangle's small drug companies have attained.
"This is a game-changing event coming up for us," CEO John Plachetka told analysts during a conference call Thursday.
Analyst Jonathan Aschoff of Brean Murray, Carret & Co. projects that annual worldwide Vimovo sales could peak at $800 million, generating about $80 million in royalty revenue for Pozen. By comparison, Pozen's revenue from royalties and milestone payments totaled $32.2 million for all of last year.
Pozen shares closed Thursday at $12.08, up $1.13. Shares have nearly doubled since the beginning of March, driven largely by anticipation of a positive outcome for Vimovo.
The stock would undoubtedly take a significant hit if the FDA delayed its ruling or raised concerns about Vimovo.
The medicine would be "the first new oral arthritis drug introduced in quite some time," if it wins approval, Plachetka said.
"Obviously, we're going to be very happy if it is approved, extremely disappointed if it isn't approved," Plachetka said in an interview Thursday afternoon.
Revenue generated from Vimovo sales would be a 10 percent royalty on U.S. sales, with varying rates in foreign markets. Pozen also stands to reap considerable revenue from milestone payments from AstraZeneca.
In the short term, that includes $20 million upon FDA approval, plus $25 million when the drug wins government approval in a major foreign market. That could happen in Europe as soon as the second half of this year, according to AstraZeneca.
Longer-term, Pozen could receive up to $260 million for achieving sales performance milestones.
Plachetka referred questions about the pricing of Vimovo and sales projections to AstraZeneca.
AstraZeneca spokeswoman Sandra Heinig said that, if approved, Vimovo would be available this summer.
But she said the company considers pricing and sales projections to be proprietary information.
In the first quarter, Pozen posted a $3 million loss, or 10 cents per share, versus a loss of $3.5 million a year ago.
Revenue, which includes royalties from its migraine drug Treximet, totaled $6.9 million, versus $8.8 million a year ago.
Royalties from Treximet, which is marketed by GlaxoSmithKline, totaled $3.8 million, up from $1 million a year ago - thanks mostly to its royalty rate's more than tripling to 18 percent.
david.ranii@newsobserver.com
Read more: http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html#ixzz0maV82XSW
POZN - Good Article in Local Rag this morning
http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html
POZEN Eager For Drug Approval
Pozen reported that its losses narrowed in the first quarter, but Wall Street and top management remained fixated on whether regulators will give the green light to the Chapel Hill company's experimental arthritis drug.
The Food and Drug Administration is expected to rule as soon as today on the company's application for Vimovo, which would be marketed by the drug giant AstraZeneca if it should win approval. The go-ahead from the FDA would give Pozen a second product, a benchmark few of the Triangle's small drug companies have attained.
"This is a game-changing event coming up for us," CEO John Plachetka told analysts during a conference call Thursday.
Analyst Jonathan Aschoff of Brean Murray, Carret & Co. projects that annual worldwide Vimovo sales could peak at $800 million, generating about $80 million in royalty revenue for Pozen. By comparison, Pozen's revenue from royalties and milestone payments totaled $32.2 million for all of last year.
Pozen shares closed Thursday at $12.08, up $1.13. Shares have nearly doubled since the beginning of March, driven largely by anticipation of a positive outcome for Vimovo.
The stock would undoubtedly take a significant hit if the FDA delayed its ruling or raised concerns about Vimovo.
The medicine would be "the first new oral arthritis drug introduced in quite some time," if it wins approval, Plachetka said.
"Obviously, we're going to be very happy if it is approved, extremely disappointed if it isn't approved," Plachetka said in an interview Thursday afternoon.
Revenue generated from Vimovo sales would be a 10 percent royalty on U.S. sales, with varying rates in foreign markets. Pozen also stands to reap considerable revenue from milestone payments from AstraZeneca.
In the short term, that includes $20 million upon FDA approval, plus $25 million when the drug wins government approval in a major foreign market. That could happen in Europe as soon as the second half of this year, according to AstraZeneca.
Longer-term, Pozen could receive up to $260 million for achieving sales performance milestones.
Plachetka referred questions about the pricing of Vimovo and sales projections to AstraZeneca.
AstraZeneca spokeswoman Sandra Heinig said that, if approved, Vimovo would be available this summer.
But she said the company considers pricing and sales projections to be proprietary information.
In the first quarter, Pozen posted a $3 million loss, or 10 cents per share, versus a loss of $3.5 million a year ago.
Revenue, which includes royalties from its migraine drug Treximet, totaled $6.9 million, versus $8.8 million a year ago.
Royalties from Treximet, which is marketed by GlaxoSmithKline, totaled $3.8 million, up from $1 million a year ago - thanks mostly to its royalty rate's more than tripling to 18 percent.
david.ranii@newsobserver.com
Read more: http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html#ixzz0maV82XSW
POZN - Good Article in Local Rag this morning
http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html
POZEN Eager For Drug Approval
Pozen reported that its losses narrowed in the first quarter, but Wall Street and top management remained fixated on whether regulators will give the green light to the Chapel Hill company's experimental arthritis drug.
The Food and Drug Administration is expected to rule as soon as today on the company's application for Vimovo, which would be marketed by the drug giant AstraZeneca if it should win approval. The go-ahead from the FDA would give Pozen a second product, a benchmark few of the Triangle's small drug companies have attained.
"This is a game-changing event coming up for us," CEO John Plachetka told analysts during a conference call Thursday.
Analyst Jonathan Aschoff of Brean Murray, Carret & Co. projects that annual worldwide Vimovo sales could peak at $800 million, generating about $80 million in royalty revenue for Pozen. By comparison, Pozen's revenue from royalties and milestone payments totaled $32.2 million for all of last year.
Pozen shares closed Thursday at $12.08, up $1.13. Shares have nearly doubled since the beginning of March, driven largely by anticipation of a positive outcome for Vimovo.
The stock would undoubtedly take a significant hit if the FDA delayed its ruling or raised concerns about Vimovo.
The medicine would be "the first new oral arthritis drug introduced in quite some time," if it wins approval, Plachetka said.
"Obviously, we're going to be very happy if it is approved, extremely disappointed if it isn't approved," Plachetka said in an interview Thursday afternoon.
Revenue generated from Vimovo sales would be a 10 percent royalty on U.S. sales, with varying rates in foreign markets. Pozen also stands to reap considerable revenue from milestone payments from AstraZeneca.
In the short term, that includes $20 million upon FDA approval, plus $25 million when the drug wins government approval in a major foreign market. That could happen in Europe as soon as the second half of this year, according to AstraZeneca.
Longer-term, Pozen could receive up to $260 million for achieving sales performance milestones.
Plachetka referred questions about the pricing of Vimovo and sales projections to AstraZeneca.
AstraZeneca spokeswoman Sandra Heinig said that, if approved, Vimovo would be available this summer.
But she said the company considers pricing and sales projections to be proprietary information.
In the first quarter, Pozen posted a $3 million loss, or 10 cents per share, versus a loss of $3.5 million a year ago.
Revenue, which includes royalties from its migraine drug Treximet, totaled $6.9 million, versus $8.8 million a year ago.
Royalties from Treximet, which is marketed by GlaxoSmithKline, totaled $3.8 million, up from $1 million a year ago - thanks mostly to its royalty rate's more than tripling to 18 percent.
david.ranii@newsobserver.com
Read more: http://www.newsobserver.com/2010/04/30/460214/pozen-eager-for-drugapproval.html#ixzz0maV82XSW
SNSS - I agree, But....
I agree about moving up heading into june but I have a question...based on the $60M mixed shelf to be "offered from time to time" and watching the pps get run straight to the 50sma yday, my worry is for the managed effort to runn it down to test support @ .80ish....that is also my hope they do it soon because I want to take advantage of that.
What are your/boards experience in similar situations? TIA
glta
S
No kidding my whole bio/pharma boards going off like a christmas tree
Watch POZN, next on many radars after DNDN