I doubt it. I would think (haven't looked) that the IP for this indication has been sewn up by CORT. Here's a fund that likes CORT:
>>Sowing the seeds
Live Oak's Allen looks for developing companies
By David Weidner, MarketWatch
Last Update: 12:01 AM ET Aug. 8, 2005
Of the 23 issues the fund owned when it launched in 2001, 18 are still in the specialized portfolio (LOGSX: news, chart, profile) .
"We're long term," said co-manager Brandi Allen. "We want to hold the stocks three to five years."
So far, the buy-and-hold strategy has paid off. The sector fund, with $34 million in assets under management, rose 19.2% on average over the three years through Aug. 4, according to fund data firm Lipper Inc., topping the 15.1% annualized gain for its health and biotechnology fund peers.
The fund's 27.1% return over the past 12 months also is better than its category's 20.1% average rise.
The investment strategy also requires that Allen and co-manager Mark Oelschlager buy stocks that may take years to produce big growth. As a result, the focus has been on lesser-known issues in the biotech area. Companies that pursue behind-the-scenes research and development tend to fill the portfolio.
Among them is Affymetrix Inc. (AFFX: news, chart, profile) which represents about 15% of the portfolio. The Santa Clara, Calif.-based company is working on producing a computer chip that will include all of information in the human genome.
The promising technology would be a useful tool for physicians seeking to prescribe drugs to patients, Allen said. For instance, if a patient carried a gene that gave them a high risk for side effects from a certain drug, the technology would flag that individual before the drug was prescribed.
On Friday, Affymetrix shares lost 30 cents to $46.42.
Likewise, Invitrogen Corp. (IVGN: news, chart, profile) , a Carlsbad, Calif.-based company that focuses on cellular research and genetics is working on products that, as Allen says, "helps pill makers come up with better pills."
Basically Invitrogen is developing technology to help streamline testing of new drugs. The good part for investors, Allen said, is that once a drug company decides to use the technology, regulators require they keep using it.
"It's sustainable," she said.
Shares of Invitrogen added 69 cents to $85.35 on Friday.
Finally, Allen is enthusiastic about a more mainstream drugmaker, Corcept Therapeutics Inc. (CORT: news, chart, profile) . The company's main drug, Corlux, is in its final test phase.
Corlux is an anti-psychotic, anti-depressant; but it's not garden variety, Allen said. Based on the chemicals in the abortion pill, RU 486, Corlux is intended for psychotic major depression. The drug is being pitched as an alternative to electro-shock therapy - the last-resort therapy for about two million Americans who suffer from psychotic depression.
Corlux, or C-1073, could be the first major breakthrough treatment since shock therapy became the standard in the 1930s, Allen said. It also is less costly. A seven-day treatment is expected to run about $3,000, compared to $25,000 to $30,000 spent on shock therapy.
On Friday, shares of Corcept Therapeutics tumbled 66 cents, or 11.1%, to $5.30.<<
CORT has been a drag for them, but AFFX & IVGN have indeed been stellar picks. The Trickle portfolio owned them both before the portfolio feature went poof.
Cheers, Tuck |
