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Biotech / Medical : biotech fireworks
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To: Jibacoa who wrote (1279)10/23/2003 3:29:58 PM
From: tuck   of 7424
 
CVTX up 26%, and wild:

>>37PM CVTX receives mixed commentary from analysts 23.60 +5.38: --Update-- CIBC views as positive news that the FDA panel will be discussing the NDA for Ranexa at its Dec 9th meeting. Specifically, firm considers this a strong positive for the stock as it was unclear what action the FDA was going to take after Ranexa was not discussed at the September panel meeting; thinks this helps clear up a major overhang on the stock as a panel meeting would most likely be necessary for Ranexa approval. Lehman, on the other hand, continues to believe co will face difficulties in its FDA review and expects a very critical briefing document to frame what firm believes is an unfavorable risk-reward profile.<<

FWIW, Miljenko was recently quoted as being short the stock.

Message 19405338

Cheers, Tuck
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