...another story of the debacle du jour
DEPOTECH (DEPO) 4 3/16 -8 13/16. Back in the good old days (3 months ago), DEPO shares would have probably started to rebound by now, as traders and devout shareholders attempted to take advantage of the panic by buying into the weakness. But, in this new environment, losers get dismembered and are left with little chance for an intraday or next day bounce. However, you should decide for yourself whether DEPO looks attractive as a high-risk/high-reward, trading play. DEPO shares have fallen 68% on the session following news the Oncologic Drugs Advisory Committee to the U.S. Food and Drug Administration (FDA) has declined to recommend approval of DepoCyt, an anti-cancer agent, for use in patients with neoplastic meningitis (NM) arising from solid tumors. End of story, right; after all this money-losing, anemic revenue producing drug-delivery company had led investors to believe that DepoCyt would be a star. Well, according to DepoTech, it will work closely with the FDA to define a path forward, including submitting additional data for supplemental FDA review. Moreover, the company has another DepoCyt application that is said to be a strong candidate for approval. Hence, where there is hope, no matter how small, there is usually opportunity. |
