We have run a watch list of companies under their own strategic review, and the number of biotech (or grouped with biotech) stocks under this description is just staggering. We published a full review of this over at BioHealthInvestor.com. The list includes Biosante Pharmaceuticals, Inc. (NASDAQ: BPAX), Cell Genesys, Inc. (NASDAQ: CEGE), EPIX Pharmaceuticals, Inc. (NASDAQ: EPIX), IDM Pharma, Inc. (NASDAQ: IDMI), La Jolla Pharmaceutical Co. (NASDAQ: LJPC), Neurogen Corporation (NASDAQ: NRGN), Northfield Laboratories Inc. (NASDAQ: NFLD) and TorreyPines Therapeutics, Inc. (NASDAQ: TPTX) are all under strategic reviews and their futures are probably questionable at best.
You can read that full report here at the BioHealthInvestor.com website.
Jon C. Ogg
May 13, 2009