Biotech Values

[Mpower]

Great post RockRat.

The anecdotal sentiment seems to overlay nicely over the near-term (bullish) & intermediate term (bearish) option speculation you point out.

Craig Wheeler has come out and stated that he is optimistic of near term approval, but that further delay would give him pause. He has openly asserted* that failure on the part of the agency to approve in the near-term, would lead him to believe that the delay was purely political. That is a pretty ballsy statement to make to the FDA ahead of a decision... I suspect he chose those words intentionally in an attempt to call out the Food & Drug Administration leadership.

That being said, if approval does not come in the near-term, it likely signals that the mL dream will continue to be deferred and MNTA will continue to live in decision purgatory until some external influence exerts pressure on the unaccountable technocrats in Washington.


* Cowen Conference Call - 3/10/2009