Trimeris eventually went under $13 as it should have, but popped back up again, and seemed ready to take on $14 again before this hit:
>>NUTLEY, N.J. (AP) -- Swiss drug maker Roche Holding Ltd. and Trimeris Inc., a Morrisville, N.C. biotech firm, said Wednesday they received a letter from the Food and Drug Administration asking for more information from an ongoing study of a needle-free drug injection system.
The device, made by Bioject Medical Technologies Inc. of Bedminster, N.J., is designed to administer Fuzeon, an HIV blocker Roche and Trimeris co-developed, the companies said.
The companies asked the FDA in May to include information on the device, called Biojector 2000, in Fuzeon labeling. The study is evaluating the use of the device for administering the drug.
The Biojector 2000 uses a carbon dioxide-powered injector to disperse liquid medication underneath the skin, without the use of needles, the companies said.
Shares of Trimeris fell 11 cents in after-hours activity after closing down 32 cents, or 2.4 percent, at $12.96 on the Nasdaq.
Bioject's shares rose 14 cents, or 8.5 percent, to close at $1.79 on the Nasdaq.<<
I didn't really expect them to have trouble with this.
FWIW, I think some biotechs are looking a bit bubbly. I think their catching excessive bids to to ramped takeover speculation. Some of that will come true, but there will be some let at the altar. I am currently short Elan and Neurocrine in my personal account, but I'm only looking for a few percent (even shorted DNA for a small profit recently). T'is early in the season. We're seeing some tax loss selling creating buying opportunities, to contrast with the bubbly ones, but I think that dynamic is mostly played out.
If anyone disagrees about the wave of tax loss selling being done, please point out a short target or two. The extended run for biotechs this year means to me that this thread should be more active.
Cheers, Tuck |
