SGX Pharmaceuticals, Inc. (SGXP)

[gfp927z]

Aiming, As far as I can tell that's just a rumor, though it would make sense that there would be some C-Met related partnering interest out there. I'd like to see the original commentary from that Leerink analyst before I believe that "10 term sheets" are out there. Still, from the stock price movement, something may be brewing.

I first heard of SGX Pharma when they were mentioned over on Silicon Investor as having a highly specific C-Met compound that was still unpartnered. Sounded interesting, but there doesn't seem to be much written about the company. I did get to listen to a presentation they had back in May though (JP Morgan Conf).

It looks like after their Troxatyl program bombed out last year, interest in the company waned. The stock steadily recovered though, and had a recent spike that corresponded to the term sheet rumor, so perhaps there's something to it. The way BPs are throwing money at early stage programs these days, I figure SGX could be an easy double if the term sheet rumor turns out to be true. I started nibbling but then unloaded to sidestep the recent market downturn. I'm back in Cortex now, so there isn't much available for other stocks at the moment unfortunately.