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Biotech / Medical : biotech firesales

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To: RockyBalboa who wrote (2197)	2/18/2010 11:35:16 AM
From: tuck	Read Replies (2) of 3661

Xenoport (XNPT) is down 67% on even worse news: a CRL from the FDA for its RLS drug. The problem is a preclinical cancer signal that conferred acceptable risk/reward in epilepsy for gabapentin (of which the XNPT drug is a prodrug), but does not for RLS. Approval looks unlikely now. What's left is a P1 program for Parkinson's, and an outlicensed preclinical program for menorrhagia. Burn must be pretty small now, and cash is about $5 share. Stock is in the mid $6s now. Several analysts have already downgraded the stock. Depomed (DEPO) is developing gabapentin for hot flashes and nerve damage caused y shingles. The former is probably a no go now, and the latter just got iffier. Stock is off 17%. Cheers, Tuck

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