FDA Plays

[oldberkeley]

INCY ($12.54) - Facts to consider before the upcoming FDA ruling:

Most experts acknowledge that ruxolitinib will be approved; it might even come early, 12/3 PDUFA date is not firm.

However, the real question is not about approval but potential sales, and that number is not so clear. Contrary to what many posters believe, it's what the street uses to determine the PPS; mere approval is no guarantee of astronomical riches, a biotech fact illustrated almost weekly.

As I've said before, I was worried that approval was baked-in at $17-19, but feel confident that INCY is a decent buy at today's price.

Long on this one, best of luck to all.