|To: Ian@SI who wrote (2542)||7/11/2006 2:36:06 PM|
|Nah, I didn't catch anything at the end of the quarter. Did a little buying, but the only trading that I did was a couple of small winners to make up, in part, for losses held in the same issue.|
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|To: DewDiligence_on_SI who wrote (2553)||7/18/2006 3:35:52 PM|
|It's really been a while since there's been a legitimate posting here -- two weeks -- since I don't recall FRX quite making the cut in actuality. That's how tough this bear has been lately. Be that as it may, TRCA just took off, about 22%. Don't see any news since the patent ruling a couple of weeks ago. Can't say I understand the ins and outs of the INSM/TRCA dispute. I gather INSM's compound has a dosing advantage, but at least some of the IP battle seems to be going TRCA's way?|
Whatever, it stands out on a day like today.
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|To: nigel bates who wrote (2556)||7/19/2006 12:15:49 PM|
|>>ILMN nearly 20%.<<|
On huge price cut on competing AFFX product:
SANTA CLARA, Calif. (AP) -- Shares of genetic analysis technology company Affymetrix Inc. slipped Wednesday following the company's move to reduce prices of a product used to test drug candidates.
The company said late Tuesday it is immediately cutting prices on its 500K SNP (single nucleotide polymorphisms) system to $250 and will offer the two-chip system as a single array by the end of the year. The company did not detail the product's original price, but UBS Investment Research analyst Derik De Bruin estimates it at around $750.
The company's stock slid $1.07, or 4.6 percent, to $22.28 on the Nasdaq in morning trading. It hit a new 52-week low earlier in the session, sliding to $22.02 before regaining some ground.
Analysts attribute the price-cutting move to growing competition from rival Illumina Inc. Illumina recently launched chip, the HumanHap550, which contains over 550,000 SNP on one chip, making it more powerful than Affymetrix's product, which contains 500,000.
Affymetrix said Tuesday it plans on releasing a system with 1 million SNP by the first quarter of 2007, with an expected price of $500.
While several analysts held their ratings for Affymetrix, some price targets were lowered on concerns over sales volume.
"We interpret Affymetrix's announcements as a sign that its genotyping business likely will not rebound until 2007," wrote Baird analyst Quintin J. Lai in a research report Wednesday.
Lai maintained a "Neutral" rating but cut his price target to $25 from $30, saying the price cut in its genotyping system is a "negative reflection on its current competitiveness" against Illumina's product.
UBS Investment Research analyst Derik De Bruin maintained his "Reduce" rating, but shaved his price target to $22 from $23, citing competition.
"Affymetrix has dominated the microarray arena, but execution problems have undercut investor confidence, calling into question (its) competitive position in the market outlook," he wrote in a report to investors.
While the price cutting move may help the company maintain its market share in the near-term, De Bruin said growth and margins could be constrained if it doesn't ramp up volumes.
Shares of Illumina surged $6.86, or 23.8 percent, to $35.71 on the Nasdaq in morning trading, eclipsing their previous 52-week high of $32.60 set July 6.<<
Cheers, Tuck (with another high five to George! If that's in his charity portfolio, look out.)
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|From: dr.praveen||7/24/2006 8:14:46 AM|
|Cardiome Announces Interim Phase 2a Results for Oral RSD1235|
Monday July 24, 7:45 am ET
<Very Positive results without safety issues...Up by 3$ by 35% premarket>
NASDAQ: CRME TSX: COM
VANCOUVER, July 24 /CNW/ - Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) today announced interim clinical results from the 300mg dosing group for its Phase 2a pilot study of RSD1235 (oral). The safety data for this first of two dosing groups suggests that RSD1235 (oral) appears well-tolerated within the target population. The interim analysis further demonstrated a clear positive trend toward efficacy, with 61% (33 of 54) of patients receiving RSD1235 (oral) completing the study in normal heart rhythm, as compared to 37% (10 of 27) of patients receiving placebo.
A total of 83 patients were successfully cardioverted after the initial 3 days of dosing and continued in the study, of which 81 reached an endpoint of the study (completion of dosing or relapse to atrial fibrillation). The remainder of the patients were discontinued from the study for reasons unrelated to atrial fibrillation.
During the 28 days of oral dosing, serious adverse events occurred in 9% of placebo patients and 10% of patients receiving RSD1235 (oral). Potentially drug-related serious adverse events occurred in 3% of placebo patients and 4% of patients receiving RSD1235 (oral). There were no cases of drug-related "Torsades de Pointes", a well-characterized arrhythmia which is an occasional side effect of some current anti-arrhythmic drugs.
"We are very pleased with these results and are enthusiastic about the prospects of RSD1235 (oral) as a therapy for the prevention of recurrence of atrial fibrillation," said Dr. Charles Fisher, Executive Vice President and Chief Medical Officer of Cardiome. "The 300mg dose is well below the maximum tolerated dose indicated by our Phase 1 studies, and to see a positive safety profile coupled with a clear trend toward efficacy at these levels is very encouraging. We await the outcome for the 600mg dosing group and remaining placebo patients for final determination of the statistical significance of both active doses utilized in this trial."
The double-blind, placebo-controlled, randomized, dose-ranging study is designed to explore safety and tolerability, pharmacokinetics and preliminary efficacy of RSD1235 (oral) over 28 days of dosing in patients at risk of recurrent atrial fibrillation. The majority of patients enrolled had experienced atrial fibrillation for greater than 30 days and less than 180 days in duration. Patients in the first stage of the study received a 300mg dose of RSD1235 (oral) or placebo twice per day. After the first 3 days, patients still in atrial fibrillation were electrically cardioverted. Successfully cardioverted patients continued to receive RSD1235 (oral) or placebo for the remaining 25 days and were monitored throughout the dosing period. Cardiome initiated the Phase 2a pilot study of RSD1235 (oral) in December 2005. The study is being conducted across 72 centres in Canada, U.S. and Europe.
"This patient population suffers significant disease burden including substantial risk of stroke, impaired cardiac function and decreased quality of life," said Bob Rieder, Chief Executive Officer of Cardiome. "Worldwide, more than 4 million patients could benefit from a safe and effective oral drug to prevent atrial fibrillation. These interim trial results move RSD1235 (oral) an important step closer to meeting this critical unmet medical need."
Enrollment and dosing for the second stage of this study, evaluating patients receiving a 600mg dose of RSD1235 (oral) or placebo twice per day, has now been completed. Results from this dosing group, and the complete study, are expected later in the 3rd quarter of this year. Initiation of a larger Phase 2b clinical study will follow analysis of these final results.
Cardiome will hold a teleconference and webcast on Monday, July 24, 2006 at 9:00am EST (6:00am PST) to discuss these results. Please dial 800-814-4941 or 416-644-3432 to access the call. There will be a separate dial-in line for analysts on which we will respond to questions at the end of the presentation. The webcast can also be accessed through Cardiome's website at www.cardiome.com.
About Cardiome Pharma Corp.
Cardiome Pharma Corp. is a product-focused cardiovascular drug development company with two clinical drug programs focused on atrial arrhythmia (intravenous and oral dosing), and a pre-clinical program directed at improving cardiovascular function.
RSD1235 (iv) is the intravenous formulation of an investigational drug being evaluated for the acute conversion of atrial fibrillation (AF). Positive top-line results from two pivotal Phase 3 trials for RSD1235 (iv), called ACT 1 and ACT 3, were released in December 2004 and September 2005. An additional Phase 3 study evaluating patients with post-operative atrial arrhythmia, called ACT 2, and an open-label safety study evaluating recent-onset AF patients, called ACT 4, are ongoing. Cardiome and its co-development partner Astellas are working toward re-submitting a New Drug Application for RSD1235 (iv) following receipt of a Refusal to File letter from the FDA in May 2006.
RSD1235 (oral) is being investigated as a chronic-use oral drug for the maintenance of normal heart rhythm following termination of AF. A Phase 2a pilot study for RSD1235 (oral) was initiated in December 2005.
Cardiome is traded on the Toronto Stock Exchange (COM) and the NASDAQ National Market (CRME). Further information about Cardiome can be found at www.cardiome.com.
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|From: tuck||7/24/2006 3:14:52 PM|
|MNTA 15% now on an upgrade:|
Crucial point, technical analysis-wise, in that its 50 day EMA is 13.13. The stock just touched 13.10. If it breaks through, it seems to me to have some further upside, but I'll happily take a second opinion from folks more experienced with TA than I.
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