Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 55.84

+1.8%

Dec 19 9:30 AM EST

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From: kenhott	5/27/2009 7:42:13 PM
	1 Recommendation Read Replies (1) of 52153

Not OT- SVNT has an FDA advisory mtg on June 16th for their refractory Gout drug. The stock is around $6 which puts the market cap over $300m. It has been rallying with the rest of the market. A fight between longs and shorts. Company is betting that the severity of the targeted population will sway the decision. Shorts are looking at the AEs and deeming it not approvable. Efficacy should not be an issue. SVNT has basically nothing else but Puricase. Cash at ~$60m. PDUFA July 31, 09. I am guessing they don't make it due to safety. Risky trade so be careful. Would recommend anyone interested either way to burn a little midnight oil and look both ways before going into the water. Good luck.

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