24/7 Wall St. » THLD

Another Boost For Threshold (THLD)

Administrator — Fri, 16 Mar 2012 11:59:28 +0000

Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) has been one of the top performing stocks of 2012. Not just in emerging pharma and in biotech, but across the board. Now we have some more good news of an orphan drug designation being granted out of Europe.

The European Commission has granted an Orphan Drug Designation for the company’s TH-302, a hypoxia-targeted drug for the treatment of soft tissue sarcoma. Soft tissue sarcoma is an aggressive form of cancer for which there is a significant unmet medical need.

The company noted that TH-302 was designed “to selectively target hypoxic regions within tumors, which are believed to not be effectively treated with current therapy.”

Keep in mind that Threshold shares were well under $2.00 at the start of 2012. Shares closed on Thursday at $6.73. This stock has traded in a range of $1.18 to $7.50 over the last year and its market capitalization rate is $330 million.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Biotech, Drug companies, FDA Tagged: THLD

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Paul Ausick — Wed, 22 Feb 2012 21:07:33 +0000

US equities markets opened lower this morning following surprisingly weak manufacturing reports from Europe and China. Fitch Ratings’ downgrade of Greek debt to ‘CCC’ could not have been a surprise, but the move highlighted the doubts about whether or not Greece will be able to meet its new obligations. The new home sales report was weaker than expected (see our coverage here) and rising crude oil costs also kept markets on the downside. Indexes remained in negative territory for most of the day and are set to close with modest losses. Crude oil was higher today, with WTI crude up 0.02% at $106.27/barrel and Brent crude up 1.23% at $123.16/barrel. Gold settled up 0.7% at $1,771.30, a three-month high.

The unofficial closing bells put the DJIA down almost 27 points to 12,938.75 (-0.21%), the NASDAQ fell more than 15 points (-0.52%) to 2,933.17, and the S&P 500 fell -0.33% or nearly 5 points to 1,357.66.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘outperform’ and target price lifted to $600 at Credit Suisse; Dell Inc. (NASDAQ: DELL) cut to ‘neutral’ at Citigroup and cut to ‘hold’ at Needham; The Mosaic Co. (NYSE: MOS) raised to ‘buy’ at Canaccord Genuity; Gilead Sciences Inc. (NASDAQ: GILD) cut to ‘market perform’ at Bernstein; and Dendreon Corp. (NASDAQ: DNDN) started as ‘neutral’ at Citigroup.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Basic Energy Services Inc. (NYSE: BAS) is up 0.15% at $19.90; Community Health Systems Inc. (NYSE: CYH) is up 14.3% at $23.61; Grand Canyon Education Inc. (NASDAQ: LOPE) is down -0.95% at $17.67; Range Resources Inc. (NYSE: RRC) is up 3.4% at $66.47; Central European Media Enterprises Ltd. (NASDAQ: CETV) is down -18.5% at $6.93; Chico’s FAS Inc. (NYSE: CHS) is up 16.9% at $14.97; Dollar Tree Inc. (NASDAQ: DLTR) is down -0.76% at $87.34; Garmin Ltd. (NASDAQ: GRMN) is up 9.2% at $48.81 after posting a new 52-week high of $49.93 (more coverage here); Novagold Resources Inc. (AMEX: NG) is flat at $8.75; R.R. Donnelley & Sons Co. (NYSE: RRD) is down -1.8% at $13.00; and Toll Brothers Inc. (NYSE: TOL) is down -4.8% at $22.56 (more coverage here).

Other standouts from today include the following stocks:

HealthStream Inc. (NASDAQ: HSTM) is up nearly 34% at $23.18 after posting a new all-time high of $23.19 earlier today. The Internet-based health learning company beat both EPS and revenue expectations in its most recent quarter.

Sourcefire Inc. (NASDAQ: FIRE) is up nearly 27% at $45.34 after posting a new all-time high of $45.50 earlier today. The Internet security provider handily beat earnings and revenue expectations last night.

Threshold Pharmaceuticals Inc. (NASDAQ: THLD) is up nearly 20% at $6.0. The pharmaceutical maker yesterday announced positive results for its pancreatic cancer treatment.

Newfield Exploration Co. (NYSE: NFX) is down more than -12% at $37.06. The independent oil & gas company missed EPS and revenue estimates last night.

Brightpoint Inc. (NASDAQ: CELL) is down more than -11% at $8.89. The mobile-phone wholesaler has cut its outlook for 2012.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New US claims for unemployment benefits
10:00 a.m. – Federal Housing Finance Agency (FHFA) house price index
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – EIA weekly petroleum status report
11:00 a.m. – Kansas City Fed manufacturing index
1:00 p.m. – 7-year note auction
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AAPL, BAS, CELL, CETV, CHS, CYH, DELL, DLTR, DNDN, FIRE, GILD, GRMN, HSTM, LOPE, MOS, NFX, NG, RRC, RRD, THLD, TOL

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Paul Ausick — Tue, 21 Feb 2012 21:05:23 +0000

US markets opened higher this morning and traded higher for most of the day. The DJIA briefly rose above 13,000 for the first time in nearly 3 years. But in the early afternoon, apparently as a result of a failure to break through the 13,000 barrier, stocks turned south and all three indexes fell below their openings. The announced settlement in Greece boosted the market early, and climbing crude oil prices helped energy stocks all day. Commodity prices also rose today as the dollar lost strength. Crude oil was up sharply, with WTI crude up more than 2% at $105.50/barrel and Brent up 0.81% at $121.02/barrel. Gold settled at $1,758.50, up 1.9%, and a two-week high.

The unofficial closing bells put the DJIA up about 16 points to 12,965.99 (0.12%), the NASDAQ fell more than 3 points (-0.11%) to 2,948.57, and the S&P 500 rose 0.07% or nearly 1 point to 1,362.23.

There were several analyst upgrades and downgrades today, including Oracle Corp. (NASDAQ: ORCL) cut to ‘market perform’ at JMP Securities; Itron Inc. (NASDAQ: ITRI) cut to ‘neutral’ at Credit Suisse; CSX Corp. (NYSE: CSX) cut to ‘neutral’ at JPMorgan; ABB Ltd. (NYSE: ABB) cut to ‘equal weight’ at Morgan Stanley; and Gilead Sciences Inc. (NYSE: GILD) cut to ‘equal weight’ at Barclays.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Barnes & Noble Inc. (NYSE: BKS) is down -4.65% at $12.50 (more coverage here); Boyd Gaming Corp. (NYSE: BYD) is down -10.6% at $8.57; Clear Channel Outdoor Holdings Inc. (NYSE: CCO) is down -3.65% at $12.16; Cobalt International Energy Inc. (NYSE: CIE) is down -6.9% at $31.67; Dollar Thrifty Auto Group Inc. (NYSE: DTG) is up 2.3% at $75.08; Hecla Mining Co. (NYSE: HL) is up 9.6% at $5.50; JAKKS Pacific Inc. (NASDAQ: JAKK) is up 0.7% at $15.16; Macy’s Inc. (NYSE: M) is up 0.8% at $36.53 after posting a new 52-week high earlier today of $38.21; Medtronic Inc. (NYSE: MDT) is down -2.6% at $38.92; Pioneer Drilling Co. (NYSE: PXD) is down -0.2% at $113.45; Saks Inc. (NYSE: SKS) is up 3.4% at $11.24; Wal-Mart Stores Inc. (NYSE: WMT) is down -4.1% at $59.90; and Westlake Chemical Corp. (NYSE: WLK) is down -4.2% at $57.93.

We have a preview of tomorrow’s earnings reports here.

Other standouts from today include the following stocks:

Threshold Pharmaceuticals Inc. (NASDAQ: THLD) is up more than 43% at $5.06 after posting a new 52-week high of $6.65 earlier today. The pharmaceutical maker announced positive results for its pancreatic cancer treatment.

Corcept Therapeutics Inc. (NASDAQ: CORT) is up 49% at $4.52. The drug maker has received FDA approval for its Cushing Syndrome treatment.

GTx Inc. (NASDAQ: GTXI) is down more than -36% at $3.70. The drug maker reported that the FDA issued a clinical hold on further trials of its prostate cancer treatment.

Chelsea Therapeutics International Ltd. (NASDAQ: CHTP) is down nearly -18% at $2.75 after posting a new 52-weekl low of $2.18 earlier today. The development stage drug maker meets with an FDA panel on Thursday to review clinical data on a new drug application. More coverage here.

Weatherford International Ltd. (NYSE: WFT) is down nearly -14% at $15.34. The oil field services company will restate prior earnings due to what the company calls “material weakness in internal controls over financial reporting for income taxes relating to current taxes payable, certain deferred tax assets and liabilities, reserves for uncertain tax positions, and current and deferred income tax expense.” Weatherford expects to take a charge for $225-$250 million for the years before 2010. More coverage here.

Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:00 a.m. – Existing home sales
11:30 a.m. – 4-week bill auction
1:00 p.m. – 5-year note auction

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ABB, BKS, BYD, CCO, CHTP, CIE, CORT, CSX, DTG, GILD, GTXI, HL, ITRI, JAKK, M, MDT, ORCL, PXD, SKS, THLD, WFT, WLK, WMT

Mid-day Movers (THLD, CORT, GURE, GTXI, WFT)

Paul Ausick — Tue, 21 Feb 2012 16:50:11 +0000

Just before noon ET today, all three major US stock indexes remain in positive territory, with the DJIA up nearly 45 points at about 12,995, the Nasdaq up 10 points at 2,962, and the S&P 500 up more than 5 points to 1,367. After opening higher this morning, markets slipped briefly before regaining the upward trend. The Greek bailout deal drove morning trading, while rising energy stocks have kept propelling the market higher. The dollar is weaker today, with the dollar index down -0.27% at 78.925. The weaker greenback is giving commodities other than oil a lift as well. The DJIA briefly touched the 13,000 level this morning.

Among the major movers at around noon today are Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Corcept Therapeutics Inc. (NASDAQ: CORT), Gulf Resources Inc. (NASDAQ: GURE), GTXi Inc. (NASDAQ: GTXI), and Weatherford International Ltd. (NYSE: WFT).

Threshold is nearly 70% at $6.00 after posting a new 52-week high of $6.65 earlier this morning. Volume is more than 13x the daily average of about 1 million shares traded. The pharmaceutical maker announced positive results for its pancreatic cancer treatment.

Corcept is up nearly 49% at $4.50. Volume is nearly 24x the daily average of 330,000 shares traded. The drug maker has received FDA approval for its Cushing Syndrome treatment.

Gulf Resources is up more than 19% at $3.13. Volume is nearly 4x the daily average of around 250,000 shares traded. The Chinese mining company has been notified of a possible buyout by its Chairman.

GTX is down more than -34% at $3.80. Volume is more than 5x the daily average of around 423,000 shares traded. The drug maker reported that the FDA issued a clinical hold on further trials of its prostate cancer treatment.

Weatherford is down nearly -12% at $15.70. Volume is more than triple the daily average of 10.6 million shares traded. The oil field services company will restate prior earnings due to what the company calls “material weakness in internal controls over financial reporting for income taxes relating to current taxes payable, certain deferred tax assets and liabilities, reserves for uncertain tax positions, and current and deferred income tax expense.” Weatherford expects to take a charge for $225-$250 million for the years before 2010.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CORT, GTXI, GURE, THLD, WFT

Morning Movers (SURW, BLRX, THLD, SOHU, ANAC)

Paul Ausick — Mon, 06 Feb 2012 15:11:46 +0000

The three major US equities indexes opened lower this morning on continued worries about the still-pending Greek debt swap. The DJIA is about 43 points at about 12,819, the Nasdaq Composite is down nearly 15 points at about 2,891, and the S&P 500 is down more than 6 points at about 1,339.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include SureWest Communications (NASDAQ: SURW), BioLineRx Ltd. (NASDAQ: BLRX), Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Sohu.com Inc. (NASDAQ: SOHU), and Anacor Pharmaceuticals Inc. (NASDAQ: ANAC).

After the first half hour of trading this morning, SureWest is up nearly 43% at $22.27 after posting a new 52-week high of $22.69. Volume is about 3x the daily average of about 46,000 shares traded. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

BioLineRx is up about 38% at $5.69. Volume is about 9x the daily average of 158,000 shares traded. The pharmaceuticals firm has signed a worldwide licensing agreement for its oral hepatitis C drug.

Threshold is up more than 25% at $3.75 after posting a new 52-week high of $3.96 earlier. Volume is nearly 20x the daily average of about 348,000 shares traded. The pharmaceuticals firm has announced a global development deal with Germany’s Merck last week, and the stock continues to soar after more than doubling last Friday.

Sohu.com is down about -15% at $53.58. Volume is more than double the daily average of about 1.25 million shares traded. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Anacor is down more than -8% at $6.80. Volume is already above the daily average of about 287,000 shares traded. The company manufactures materials used in solar PV modules, and lowered its fourth-quarter guidance this morning.

Intermec is down more than -11% at $7.77. Volume is already more than double the daily average of about 68,000 shares traded. The pharmaceuticals firm’s shares were halted this morning, before news that GlaxoSmithKline plc (NYSE: GSK) had halted a trial of Anacor’s drug to treat urinary tract infection.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ANAC, BLRX, SOHU, SURW, THLD

24/7 Wall St. Closing Bell (MRO, PEET, RIMM, URBN, CHK, GILD, GNW, PCCC, NVLS, PKI, BEAM, EL, WY, THLD, TUDO, ZOLT, STRI, MNKD)

Paul Ausick — Fri, 03 Feb 2012 21:09:33 +0000

Major indexes reacted positively to this morning’s non-farm payrolls report and the drop in the US unemployment rate from 8.5% to 8.3%. Expectations for the unemployment rate had been no better than flat, and jobs growth of 243,000 was also a big surprise. The report ISM service jobs was also higher than expected this morning, although data on new factory orders was lower than expected. The Nasdaq composite posted an 11-year high today, and yields on US Treasuries also rose as investors headed into equities. Crude oil rose sharply today on the good economic news. WTI crude is up 1.32% at $97.63/barrel and Brent crude is up 2.10% at $114.42/barrel. Gold, as might be expected, dropped -1.64% today to $1,730.50/ounce.

The unofficial closing bells put the DJIA up nearly 157 points to 12,862.23 (1.23%), the NASDAQ rose nearly 46 points (1.61%) to 2,905.66, and the S&P 500 rose 1.46% or more than 19 points to 1,344.90.

There were several analyst upgrades and downgrades today, including Marathon Oil Corp. (NYSE: MRO) cut to ‘hold’ at Argus; Peet’s Coffee & Tea Inc. (NASDAQ: PEET) raised to ‘outperform’ at Baird; Research in Motion Ltd. (NASDAQ: RIMM) cut to ‘underperform’ at Jefferies; Urban Outfitters Inc. (NASDAQ: URBN) raised to ‘buy’ at Janney Capital; and Chesapeake Energy Corp. (NYSE: CHK) started as ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Gilead Sciences Inc. (NASDAQ: GILD) is up more than 11% at $54.83 after posting a new 52-week high of $54.90 earlier (see our coverage here); Genworth Financial Inc. (NYSE: GNW) is up more than 13% at $9.12; PC Connection Inc. (NASDAQ: PCCC) is down nearly -20% at $10.22; Novellus Systems Inc. (NASDAQ: NVLS) is down -0.73% at $48.98, but posted a new 52-week high of $49.92 earlier in the day; PerkinElmer Inc. (NYSE: PKI) is up more than 6% at $26.21; Beam Inc. (NYSE: BEAM) is up 2.4% at $54.28; Estee Lauder Cos. Inc. (NYSE: EL) is down -3.64% at $56.71 (more coverage here); and Weyerhaeuser Co. (NYSE: WY) is up more than 5% at $21.19.

Other standouts from today include the following stocks:

Threshold Pharmaceuticals Inc. (NASDAQ: THLD) is up nearly 115% at $2.77. The pharmaceuticals firm has announced a global development deal with Germany’s Merck.

Tudou Holdings Ltd. (NASDAQ: TUDO) is up nearly 19% at $16.66. The Chinese online video company has signed a deal with Sina Corp. (NASDAQ: SINA) to provide a video platform for Sina Weibo, a Twitter-like social site.

Zoltek Cos. Inc. (NASDAQ: ZOLT) is up nearly 39% at $13.14. The specialty fibers maker posted good earnings number and forecast continued growth in the market for wind turbines which use its carbon fibers in blade construction.

STR Holdings Inc. (NASDAQ: STRI) is down nearly -20% at $9.08. The company manufactures materials used in solar PV modules, and lowered its fourth-quarter guidance this morning.

Mannkind Corp. (NASDAQ: MNKD) is down nearly -13% at $2.15 after posting a new 52-week low of $2.14 earlier. The biotech company has priced its public offering of units containing one share of stock and warrant to purchase another 0.6 shares. More coverage here.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

11:30 a.m. – 3- and 6-month Treasury bill auction
3:00 p.m. – Treasury STRIPS

Have a great weekend.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BEAM, CHK, EL, GILD, GNW, MNKD, MRO, NVLS, PCCC, PEET, PKI, RIMM, STRI, THLD, TUDO, URBN, WY, ZOLT

Mid-day Movers (THLD, OPTT, ZNGA, MNOV, MNKD)

Paul Ausick — Fri, 03 Feb 2012 17:09:07 +0000

Among the major movers at around noon today are Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Ocean Power Technologies Inc. (NASDAQ: OPTT), Zynga Inc. (NASDAQ: ZNGA), MediciNova Inc. (NASDAQ: MNOV), and Mannkind Corp. (NASDAQ: MNKD).

Shares of Threshold are up about 81% at $2.33. About 6 million shares have been traded so far today, compared with a 3-month daily average of about 137,000 shares traded. The pharmaceuticals firm has announced a global development deal with Germany’s Merck. We have more coverage here.

Ocean Power is up nearly 19% at $3.45. Nearly 150,000 shares have traded this morning, compared with a 3-month daily average of around 79,000. The company is developing an electricity generation system that uses wave power to drive the turbine, and has today reported a highly successful test for the US Navy.

Zynga is up nearly 14% at $14.07 after posting a new post-IPO high of $14.43 earlier today. More than 30 million shares have traded this morning, compared with a 3-month daily average of about 12 million. The social game maker has become a virtual tracking stock for the Facebook IPO — or at least investor enthusiasm for the IPO. sharespost.com lists Facebook shares at $36 on the secondary market today, up less than 3% since the announcement of the IPO. More coverage here.

MediciNova is down nearly -15% at 2.10. About 50,000 shares have traded by mid-day, compared with a daily average of about 12,000. Shares gained more than 30% yesterday, so today’s action is likely some profit taking.

Mannkind shares are down more than -11% at $2.19 after setting a new 52-week low of $2.15 earlier today. More than 14 million shares have already traded this morning, compared with a 3-month daily average of about about 900,000 shares. The company has priced its public offering of units containing one share of stock and warrant to purchase another 0.6 shares. More coverage here.

At about noon, the DJIA is up 1.38% at about 12,843, the Nasdaq is up 1.39% at around 2,899, and the S&P 500 is up 1.23% at about 1,342. Today’s report on non-farm payrolls and a fall in the headline unemployment rate to 8.3% have put some life into the market today.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: MNKD, MNOV, OPTT, THLD, ZNGA

Morning Movers (THLD, ZOLT, GNW, STRI, IN)

Paul Ausick — Fri, 03 Feb 2012 15:23:46 +0000

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Zoltek Cos. Inc. (NASDAQ: ZOLT), Genworth Financial Inc. (NYSE: GNW), STR Holdings Inc. (NASDAQ: STRI), and Intermec Inc. (NYSE: IN).

After the first half hour of trading this morning, Threshold is up nearly 83% at $2.36. Volume is about 20 x the daily average of about 137,000 shares traded. The pharmaceuticals firm has announced a global development deal with Germany’s Merck. See our coverage here.

Zoltek is more than 45% at $13.75. Volume is about 7x the daily average of about 263,000 shares traded. The specialty fibers maker posted good earnings number and forecast continued growth in the market for wind turbines.

Genworth is up nearly 14% at $9.15. Volume is already nearly equal to the daily average of about 9.3 million shares traded. The financial services company reported better-than-expected earnings last night, and growth in its life insurance business.

STR Holdings is down nearly -17% at $9.42. Volume is already above the daily average of about 287,000 shares traded. The company manufactures materials used in solar PV modules, and lowered its fourth-quarter guidance this morning.

Intermec is down more than -11% at $7.77. Volume is already more than half the daily average of about 254,000 shares traded. The RFID products maker missed estimates and has lowered guidance.

The DJIA is up 1.26% at about 12,866, the Nasdaq Composite is up 1.36% at about 2,899, and the S&P 500 is up 1.29% at about 1,343. The unexpectedly buoyant employment report is driving the market this morning.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: GNW, IN, STRI, THLD, ZOLT

Weekend of Cancer Data at AACR Ahead of ASCO (ALTH, AMGN, ARIA, ARRY, AZN, BIIB, CELG, CRIS, IMMU, IMGN, INFI, MEDX, MNTA, ONCY, PFE, PCYC, SUPG, TELK, THLD)

247wallst — Fri, 17 Apr 2009 19:05:16 +0000

This weekend will be a potentially important oncology and cancer news weekend for drug and biotech stocks. The American Association for Cancer Research Meeting will actually have a 100th annual meeting, and some traders and investors may be using this as a preview for what lies ahead at the American Society of Clinical Oncology (ASCO) annual meeting in a month. The following companies which are presenting data:

Allos Therapeutics, Inc. (NASDAQ: ALTH)
Amgen (NASDAQ: AMGN)
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA)
Array BioPharma, Inc. (NASDAQ: ARRY)
AstraZeneca’s (NYSE: AZN) Medimmune unit
Biogen Idec Inc. (NASDAQ: BIIB)
Celgene Corporation (NASDAQ: CELG)
Curis, Inc. (NASDAQ: CRIS)
Immunomedics, Inc. (Nasdaq: IMMU)
ImmunoGen, Inc. (Nasdaq: IMGN)
Infinity Pharmaceuticals, Inc. (NASDAQ: INFI)
Medarex, Inc. (Nasdaq: MEDX)
Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA)
Oncolytics Biotech, Inc. (NASDAQ: ONCY)
Pfizer (NYSE: PFE)
Pharmacyclics, Inc. (NASDAQ: PCYC)
SuperGen Inc. (NASDAQ:SUPG)
Telik, Inc. (Nasdaq: TELK)
Threshold Pharmaceuticals, Inc. (Nasdaq: THLD)

You can see a full summary of the data being presented at BioHealthInvestor.com site. There will be others presenting data this weekend, and these were from the press releases of the meeting ahead of time.

JON C. OGG

Posted in Biotech, Calendar, Drug companies Tagged: ALTH, AMGN, ARIA, ARRY, AZN, BIIB, CELG, CRIS, IMGN, IMMU, INFI, MEDX, MNTA, ONCY, PCYC, PFE, SUPG, TELK, THLD

Biotechs & Pharmas Bracing For ASCO Annual Meeting

247wallst — Wed, 30 May 2007 18:30:12 +0000

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.

SUNDAY, JUNE 3

Telik (TELK) will post some data in the studies of Tecyta in overian cancer, which failed to meet endpoints.

Celgene (CELG) will be presenting data on a Revlimid-plus study in multiple myeloma patients.

Regeneron (REGN) will show Phase II data on VEGF-TRAP for advancedtreatment-resistant ovarian cancer and another phase II study innon-small cell lung cancer.

Bristol-Myers Squibb (BMY) will present preliminary Phase III datadesigned to be a fight against advanced and chemo-refractory metastaticbreast cancer.

GlaxoSmithkline (GSK) will also present Phase III Tykerb studies for the treatment of metastatic breast cancer.

Abbott Laboratories (ABT) will present data on targeting pathways to kill tumor cells.

NEXT WEEK

GPC Biotech (GPCB) will post some new data in its Phase III prostate cancer studies.

Imclone (IMCL) will release details of a failed study of Erbitux for pancreatic cancer.

Merck (MRK) will discuss future molecular targets for pediatric cancer.

Pfizer (PFE) will be posting further Phase II data on monoclonal antibodies for the possible treatment of melanoma.

Medarex (MEDX) will post Phase II data on melanoma studies.

Introgen (INGN) will post Advexin data for the marking of head and neck cancers.

deCODE Genetics (DCGN) will present on the ethical and financial needs in cancer genetics.

A sample of other stocks to watch in the sector are Cytogen (CYTO),Monogram Bio (MGRM), Telik (TELK), Threshold Pharmaceuticals (THLD),NeoPharm (NEOL), and Invitrogen (IVGN). There are many many morecompanies that will be presenting. Last year when we were in theprocess of rolling up our companies into one, I did a very full list of companies and the subsequent presentations.Here you can see that to see a much wider list of companies becausethese companies become "ASCO-ADDICTS" and most go back year after year.

Jon C. Ogg
May 30, 2007