BARRONS:: Wanted: Risk Takers
April 2
Little biotechs were supposed to have been snapped up by big pharma acquirers with billions in cash repatriated from overseas, under the Jobs Creation Act of 2004. Instead, the sector continues to sell off. No one wants to take the risk of a busted product, like Elan and Biogen Idec's Tysabri. Yet some small biotech firms, like Onyx and Transkaryotic, could have good news this year.
Recent Market
Company
Symbol
Price
Cap
Product
Indication
Event
Comment
BOOM
Onyx Pharma
ONXX
$31.35
$1.11B
sorafenib
Kidney Cancer
May 13, Oncology meeting
Clinical details of Ph.III trial
Transkaryotic Therapies
TKTX
24.97
0.87B
I2S
Hunter Syndrome
June 05, expect study results
If successful, FDA approval by year end
Vion Pharmaceuticals
VION
2.85
0.19B
Cloretazine
leukemia
Mar. 28, Ph.III begun
Good Ph.II results, but not placebo-controlled
BUST
Biogen Idec
BIIB
34.51
11.51B
Tysabri
multiple sclerosis
Feb 28, drug withdrawn
3rd brain infection reported last week
Protein Design Labs
PDLI
15.99
1.54B
Nuvion
colitis
Mar. 23, testing prolonged
Company needs more studies than planned
Ligand Pharma
LGNDE
5.73
0.42B
Targretin
lung cancer
Mar. 28, fails study
Shares face delisting
Sources: Company Reports, Cowen & Co., Baseline |
