Pay attention to Biovest International, Inc. (BVTI.PK) this week.

The company will be presenting at the MD Becker Partners Cancer Immunotherapy Conference at the New York Academy of Medicine on October 6th.

Biovest, a subsidiary of Accentia Biopharmaceuticals (ABPI), has developed BiovaxID, a cancer immunotherapy treatment for non-Hodgkins lymphoma, and will use this presentation to outline the regulatory and strategic road forward for bringing the treatment to market.

The path to approval, thus far, has not been all sunshine and rainbows for Biovest.

Much was made about the potential of BiovaxID back in the 2007-2008 timeframe when the late-stage study results and crashing markets made for some hugely volatile and exciting trading opportunities for the BVIT stock, but since then the press release printing press has been relatively silent as both Accentia and Biovest entered into, and then emerged from bankruptcy.

A nice price spike occured after the companies put the bankruptcy ordeal in the rear view mirror, but even while providing some solid updates earlier this year, BVTI and ABPI are both back to trading in the forty cent range.

And that's where we stand today.

Biovest’s Senior Vice President for Product Development & Regulatory Affairs, Dr. Carlos F. Santos, Ph.D will present on October 6th regarding the path to approval for BiovaxID.

Some skeptical investors will look at the past Phase III trial results and question the fact that if the results were solid enough for approval, then the company would well have filed as such with the FDA by now, while others will argue that the survival data gathered over the years of regulatory inaction from Biovest may only bolster its case for approval at this point.

Currently, BVTI trades for a market cap of about fifty million on the pink sheets, with ABPI trading at a cap of under thirty. Both might make decent speculative buys with some 'night on the town' money, with Accentia maybe having the edge because of its status of being the parent company with a lower market cap and other products in the pipeline.

Biovest, however, will see some significant price appreciation if it looks like the chance for an FDA approval exists. Its current market cap indicates that the market is not giving Biovax much of a chance for approval, as many companies with just Phase II immunotherapeutic cancer treatments trade with a higher cap.

That's why paying attention now to what the company has to say is important; with that, however, it's the updated data that will be more important. If it looks like the longer-term look at results will boost the case for approval, then BVTI and ABPI become better speculative buys, but one can't ignore the fact that over two years ago the company announced positive results, but have yet to file for approval.

Granted, a down market and bankruptcy might have delayed that action for a bit, but it's also a valid viewpoint that if the results really were that convincing, then the company would have found a way to file.

An already interesting story might get that much more interesting.

Let's watch this one.

Disclosure: No position.

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