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

To: Jibacoa who wrote (3031)	8/26/2010 1:04:51 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

SOMX was up 10.82% at 10:09am and it traded again at that level at 12:41pm after it was able to hold support at the $4.50 but is now up only 7.6% at present. <g> The stock has not closed yesterday's UG and volume remains heavy, about 3.4x its ADV, but still below yesterday's <g> bigcharts.marketwatch.com SOMX announced yesterday that it had entered an agreement with PG for a co-promotion of its Silenor (doxepin),which has bee approved for treatment of insomnia. PG’s sales force will promote Silenor to targeted primary care and other high-prescribing physicians and SOMX will focus on specialists.<g> PG will also promote the drug to pharmacies and will provide supplemental managed care support services. SOMX has also granted PG a right of first negotiation relating to rights to develop and market the drug as an over-the-counter medication in the U.S. SOMX will pay PG on a combination of fixed fees and a royalty based on U.S. net sales, each party will be responsible for the costs of operating its own sales force, and SOMX will be responsible for all other costs pertaining to the commercialization of Silenor. The ACTAY remains at $10.50 The stock traded yesterday above my TT of $5, and although the stock has a good amount of resistance at $6, I will now put a new TT at $8.<g> bigcharts.marketwatch.com Bernard