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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2522)	9/21/2009 12:14:34 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

Re: OPK With the merger of Sorrento Pharmaceuticals into a subsidiary of QBSW, Sorrento will now be a public company and the name of the new company will be 'Sorrento Pharmaceuticals', with OPK owning around 75% of the shares. On Jan 23, OPK received FDA clearance to begin marketing its Spectral OCT SLO ocular imaging instrument. In Novemeber it will be two years since OPK acquired OTI Opthalmic Technologies. The stock dropped to the $0.55 level on March 9, when it announced that it had decided to terminate its PIII of Bevasiranib, a siRNA, for the treatment of wet-AMD. Of course that coincided with the general market temporary bottom, and the stock has rebounded nicely since then.<g> The near support is now at $2.50 and resistance at $2.75 and then the $2.90 level. bigcharts.marketwatch.com It seems that on a close above $3, the stock could get to test the resistance from the Jan 2008 H at $3.90 <g> bigcharts.marketwatch.com As previously mentioned,initially OPK's field of interest was limited to pharmaceuticals, drug delivery technologies, diagnostic systems, and instruments for the treatment, of ophthalmic disorders. But since the recent infusion of new money in June, the company has been expanding its field of interest into other areas of unmet medical need at a rapid pace. It now plans to to establish positions in oncology, infectious diseases, neurological disorders, and any other other rapidly growing medical market, through strategic acquisitions and organic growth. OPK is based in Miami, and its CEO, Phillip Frost,M.D., has a good investment record. <g> Disclosure,in spite of its highly leveraged position, I am long OPK. Bernard