The Vanda news, Cougar buyout, and this premature over-all market rally have made things in biotech too pricey for me. It's a real shame that IDM couldn't catch a bid with such enthusiasm in the baby-biotechs.
I do have my eye on titan pharmaceutical but I'm only interested at the dollar level so it will have to come in. I shouldn't have waited but here's the story; they are a play on the VNDA antipsychotic drug Fanapt. Titan owns a 8-10 percent royalty on Fanapt and so it's a potentially much cheaper way to play Vanda. It's a pink sheet but it should have a nice revenue stream once Vanda starts selling Fanapt. Adam Feurstein explains it nicely; Here's the link.
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