Posts for Ticker ‘GPCB’

The Day In Biotech Stocks (January 15, 2008) (DNA, DNDN, GENZ, TTHI, LCBM, CEGE, GPCB, CGEN)

Today was a brutal day for risk stocks, and biotechs are often thought of as risky to stocks as Russian Roulette is to your head.  But Biotechs are also a source of safety IF they are winners, and you could in theory have a market down 30% and see a small biotech run up exponentially if it has a major development in a drug candidate.  In short, there’s always action in this sector.  It survives democrats and republicans, bull markets and bear markets, and growth versus defense (and vise versa).

Unfortunately, Genetech fell 1.44% to $69.62 after it beat earnings Monday and reiterated its 2008 guidance.  Unfortunately it also missed sales estimates on ALL of its top four drugs.

Dendreon (NASDAQ: DNDN) was a safety net, as we noted that the E.U. may come to its aid.  It was granted a method patent for its PROVENGE for prostate cancer (and another patent).  That is after a large gain yesterday too.  DNDN rose 4.2% to $6.73.

Genzyme (NASDAQ: GENZ) saw S&P actually Raise its corporate debtrating based on its solid operating performance, varied portfolio, and its strong pipeline.  S&P’s raised the rating to ‘BBB+’ from ‘BBB,’ and this is that much stronger in a "investment grade rating" for corporations.  GENZ fell 0.2% in regular trading and rose 0.2% to $78.68 after the news.

Transition Therapeutics Inc. (NASDAQ: TTHI) rose 10% to $12.10 on a whopping 49,582 shares, yet not official news was out.  We don’t even have any options data on it.

Lifecore Bio (NASDAQ: LCBM) rose a whopping 30% today to $16.76 because Warburg Pincus is acquiring the stock for $17.00 per share.  It traded some 3.4 million shares.

Cell Genesys (NASDAQ:CEGE) rose some 6% to $2.24 after it filed its financial report (on Edgar), but this is one day after its press release of "Interim Analysis Supports Continuation of Cell Genesys’ VITAL-1 Phase 3 Clinical Trial of GVAX Immunotherapy for Prostate Cancer" that was out yesterday.

GPC Biotech AG (NASDAQ: GPCB) fell by 16.9% down to $2.99, although we didn’t see any direct news on this biotech implosion.  Its trading range is (was) $3.25 to $37.79, ouch.

Compugen (NASDAQ: CGEN) rose $0.32 or almost 16% to $2.33, and it was up even further than that in after-hours trading.  The company didn’t have any news today of its own but yesterday morning it did announce a GPCR Ligand Discovery and License Option Agreement With Merck that had it up big yesterday.

Jon C. Ogg
January 15, 2008

Posted on: January 15, 2008 – 7:07 pm in Biotech, , , , , , , ,

Failed Cancer Drug Trial Drives GPC Biotech (GPCB) Down 62%

Shares of GPC Biotech (GPCB) are off 62% before the open.

GPCB announced that the Phase 3 SPARC trial evaluating satraplatin for the treatment of hormone-refractory prostate cancer did not meet its primary efficacy endpoint.

The shares should open around $4.38. The company has a 52-week high of $37.79.

Douglas A. McIntyre

Posted on: October 31, 2007 – 7:42 am in Uncategorized,

GPC Biotech (GPCB) Shares Now Cut In Half

Small biotechs, perhaps the most dangerous shares in the market GPC Biotech (GPCB) is down 33% today to $13.63. It is down by more than half from $37.79, its 52-week high.

The company announced that by an unanimous vote, the FDA’s Oncologic Drugs Advisory Committee said the agency should not approve GPC’s satraplatin before seeing final survival results from a late stage trial. GPC Biotech said it would not be able to provide that data until late 2008, according to Reuters.

Last year, the company lost over $87 million on revenue of less than $30 million. Even with its shares down this much, it still sports a market cap of almost $500 million.

What a peach.

Douglas A. McIntyre

Posted on: July 25, 2007 – 8:43 am in Uncategorized,

Pre-Market Stock News (June 25, 2007)

(AAPL) Apple’s iTunes passed Amazon.com in music sales to become #3 music seller behind Best Buy and Wal-Mart.
(AFOP) Alliance Fiber Optics raised Q2 sales guidance.
(AGN) Allergan trades ex-split to reflect a 2-1 stock split today.
(BNT) Bentley Pharmaceuticals reported positive results with Nasulin intranasal insulin spray at the American Diabetes Association sessions.
(BX) Blackstone was the cover story for Barron’s, noted somewhat cautiously.
(DCGN) deCODE genetics announces positive clinical results for DG041 lead product candidate.
(EBAY) eBay has reportedly sent back some of the ad business to Google that it recently pulled.
(ESRX) Express Scripts trades ex-split today to reflect a 2-1 stock split.
(FRH) Freedom Acquisition Holdings is becoming a public hedge fund and alternative investment vehicle as GLG Partners a $3.4 Billion total compensation deal.
(GILD) Gilead trades ex-split today to reflect a 2-1 stock split.
(GIVN) Given Imaging could revolutionize colonoscopies according to Cramer.
(GPCB) GPC Biotech announced a partnership for Satraplatin in Japan with Yakult Honsha Co. Ltd. And will receive close to a $10 million payment plus royalties.
(HNSN) Hansen Medical has initiated legal action against Luna Innovations over trade secrets, unfair competition and breach of contract on fiber optic technologies for use in robotic catheter products and related intellectual property.
(KVHI) KVH Industries received a $1.1 million fiber optic gyro order for military simulators.
(LRY) Liberty Property established a $50 million buyback program as part of a total $100 million buyback plan.
(MRK) Merck announced that JANUVIA in combination with metaformin provided significant glycemic improvement and was well tolerated and showed significantly improved blood sugar control in patients with type II diabetes.
(NBL) Noble Energy announced new oil and gas discovery in Equatorial Guinea.
(NGI) NEON Communications being acquired for $5.25 per share by RCN Communications.
(NRGN) Neurogen announces positive results for proprietary insomnia drug in two chronic insomnia clinical trials.
(NTDOY) Nintendo passed up Sony in market value in Japan today.
(OMTR) Omniture could be acquired in online ad measuring according to Cramer; stock up 8%.
(OREX) Orexigen Therapeutics announced positive obesity data this weekend American Diabetes Association 67th Scientific Sessions in Chicago.
(USEY) US Energy is seeking third party financial advisors to assist board in its evaluation of potential refinancing or restructuring transactions
(YHOO) Yahoo!’s head executive of US ad sales left for Martha Stewart Ominimedia; Yahoo! is merging ad departments.

Jon C. Ogg
June 25, 2007

JOn Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 25, 2007 – 7:18 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , , , ,

Biotechs & Pharmas Bracing For ASCO Annual Meeting

This weekend we have the mother of all future cancer treatment conferences: ASCO, or The American Society of Clinical Oncology.  Cancer stocks in the last few weeks have been seeing a muted response ahead of the event that biotech investors have traditionally braced for.  At various points on the website you can find a full list of contributing and presenting companies.  This is only a sample of the companies presenting data and it is very possible that the dates and even the companies may have changed.  Also, you’ll probably start seeing news here at this ASCO News Site either late Thursday evening or Friday. Some of these dates and presentation schedules have been compiled over a multi-week period, so it is very likely that some of these will have changed.

SATURDAY, JUNE 2

Genentech (DNA) will show data with Roche on Avastin plus a chemotherapy dual-mix cocktail for first line treatment in non-small cell lung cancer patients.  Later on at ASCO, a failed Avastin study for the treatment of pancreatic cancer will be shown.  Some Phase III Avastin data in kidney cancer will also be presented next week. Genentech will also be showing data with partners OSI Pharmaceuticals (OSIP) and Imclone (IMCL) in later days.

Pfizer (PFE) will present data on Sutent’s safety and efficacy in Phase II liver cancer studies.

If you forgot about Dendreon (DNDN), this will be the company’s last known data presentation on Provenge after getting the FDA delay.  Investors will be looking closely at any ‘New Data’ presented because much of the ongoing study data is being treated as old data.

Arqule (ARQL) and Exelixis (EXEL) are presenting data as well on molecules that are deemed cancer targets

Others to watch are Onyx Pharmaceuticals (ONXX) and partner Bayer (BAY), because their liver cancer studies are under concern over toxicity.  Its Nexavar data will be presented later for liver cancer Phase III.

Amgen (AMGN) will have study posters up discussing safety of its anemia treatment Aranesp that many patients have to use.  It is no secret that the reimbursement rates, effectiveness and safety, and the dosage have been under fire and worse for some time now.  Most of the damage has been done and many feel that more cautionary and worrisome days are ahead.

Immunogen (IMGN) will be releasing some preliminary data on Herceptin-DM1 in its Genentech pact for the treatment of breast cancer.

Read More »

Posted on: May 30, 2007 – 6:30 pm in Biotech, , , , , , , , , , , , , , , , , , , ,