It'll be a short trading week after a long weekend, but there's still always stories to tell...
TTNP: Titan Pharmaceuticals (TTNP.ob) provided quick resolution to the potentially troubling concerns of the prior weekend when the FDA indicated that it wanted to alter the Statistical Analysis Plan (SAP) for the completed Phase III Probuphine trial. Titan had filed the SAP with the FDA during the third quarter of 2010, so the seemingly last-minute interjection by the FDA was enough to incite panic that caused the TTNP share price to hit $1.30 shortly after the news was announced.
On Thursday of last week, Titan issued an update that settled nerves and the company's share price climbed to over $1.80 before closing the trading week at just under that mark.
What the FDA is looking for is relatively minor, just confirmation that those who claimed to have used opioids actually did. Titan will immediately unblind the data, get to work analyzing it and have results out by the end of the month.
That bodes well for shareholders of Titan who, just one week ago, were starting to get a little nervous about a trial that most expect to come out positive since it's been labeled as a "confirmatory" trial, to confirm the positive outcome of those held previously.
Keep an eye on this one, as the unblinding and analysis of the Probuphine data could provide a nice July catalyst.
DNDN: Dendreon (DNDN) received a solid dose of good news last week - news that puts the company on track to meet some very ambitious year-end revenue goals.
Two key catalysts in play turned out in Dendreon's favor.
The FDA granted approval for its Los Angeles Provenge manufacturing facility - which adds another 36 work stations to the already-approved 48 - and the U.S. Center for Medicare and Medicaid Services (CMS) issued a final "good to go" ruling on Provenge being covered under those services.
DNDN traded with volatility on the news releases, actually declining after the approval news, but rebounded on Friday to head into the long weekend on an up-note.
These positive decisions were expected by most, but they go a long way to cementing Dendreon as a definitive leader in cancer treatment moving forward.
For those with a long term outlook, any dips or sustained trading below the forty dollar level might just be decent buying opportunity.
Watch the trading this week, some of the established volatility could continue.
CYTR: Shares of CytRx Corporation (CYTR) have dipped recently, which may provoke investors to take another look at this company that has a solid pipeline of cancer-treating potential going for it.
Heading into last weekend, the company traded over thirteen million shares, a noteworthy number since the daily trading average is just under 800,000.
The new CYTR trading week did not open up with the same volume boost that it closed the previous, but the price has held steady as the company conducted its annual meeting of shareholders this past Thursday.
CytRx's pipeline is stacked with potential treatments for various cancers, and the company has been releasing a roll of encouraging news. A recent company update noted that preliminary results from the ongoing ENABLE Phase 2 proof-of-concept trial for bafetinib in the treatment of relapsed or refractory B-cell chronic lymphocytic leukemia (B-CLL) were trending positive.
Bafetinib is being investigated for effectiveness in treating multiple cancer indications, including advance prostate cancer, brain cancer and leukemia. The company also has Tamibarotene for the treatment of non-small cell lung (NSCL) cancer and acute promyelocytic leukemia (APL) in the pipeline, as well as INNO-206 as an anti-tumor agent.
In all, CytRx has seven clinical trials either under way or expected to soon commence, according to statements made by management in a recent quarterly report.
With the developing pipeline of multiple product candidates and enough cash on hand to fund the short to mid term future, it's worth keeping an eye on this company as the share price has slipped into what could be a nice buying range.
Keep an eye on it and watch for pending developments.
AMZN: This one is unlikely to play with the share price much, but it'll be well worth watching the developments taking place at Amazon (AMZN) after the company decided to fight California's new law requiring online retailers to pay sales tax on products sold.
California's law, according to published reports, is intended to level the playing field between retailers with a physical presence in the state and the onliners with no presence, but we all know that California is bankrupt, so this action is solely geared towards suring up an empty bank account - any other intentions of "fairness" are purely political fluff to get the bill passed.
The power behind the bill, according to Governor Jerry Brown, lies in the fact that Amazon has affiliates located in the state who drive traffic to the powerhouse online retailer, therefore California is due its 7%-plus cut of the sale.
It's expected that Amazon will file suit against the state in response - it also has a case pending in New York (another state where irresponsible politicians have nearly ran the government broke) - and other states have already followed the path set by California and moved towards enacting legislation to collect similar taxes.
On an interim basis, Amazon may discontinue its relationship with all affiliates located in California. Ironically enough, the percentage on sales received by the Amazon affiliates is very significantly less than the cut that California is looking to take.
A development worth watching, as it could have serious ramifications for online retailers everywhere.
SIGA: Encouraging news released last week didn't do much for the share price as SIGA ticked lower even after Chimerix withdrew its appeal to the recent awarding of a BARDA contract that has the company set to provide the US national biodefense stockpile with 1.7 million doses of its ST-246 smallpox antiviral.
According to statistics presented on Yahoo! Finance, SIGA's short interest is roughly 20% of the float, a significant number for a company that has so much going for it right now.
The slip to below ten bucks, while discouraging to some investors, might have provided a nice entry point for those looking down the road. Now that the BARDA contract award is able to move forward without impediment, the US Government will start transferring money into the SIGA bank accounts immediately, and this could just be the beginning of a relationship that lasts a long time.
The heavy short interest may keep some downward pressure on the stock over the short term, but SIGA should have no trouble surpassing its 52-week highs over the mid to long term.
Definitely a story worth watching.
CDXC: ChromaDex Corp. has been ticking higher over the past couple of weeks, and a July launch of its BluScience product line into GNC stores is a short term catalyst that investors should keep an eye on.
The company provided additional milestone news last week by announcing that Cott beverages, a subsidiary of Cott Corporation, has licensed pTeroPure, ChromaDex's proprietary natural ingredient produced from pterostilbene, found naturally in blueberries.
The Cott deal is a testament to the additional revenue streams that management at ChromaDex is creating for the company, and the fact that the deal was announced so quickly after receiving GRAS status tells investors that management is working diligently behind the scenes to turn expectations into reality.
CDXC has been picking up in volume of late, along with price.
Keep an eye on any increased volatility and attention this week. Last week's licensing agreement with Cott is a pretty big deal for the company, to say the least, and the pending BluScience launch into GNC stores nationally might put this company on the map for good.
CPST: Capstone spent the past couple of weeks rebounding off the floor of a recent dip that resulted when the company announced earnings that didn't demonstrate increasing revenues and margins at a pace fast enough that could thwart an attack by heavy short interest.
Capstone, however, has inched higher over the past week, and the rise could continue.
The last earnings report was an encouraging look into the future as backlog and orders continue to grow. The global shift is towards cleaner energy, and the low-emission microturbines that this company has to offer fit right into that profile.
As CPST continues to inch higher, it's worth at least keeping this one on the watch list.
CTSO: Cytosorbents looks to have found a home in the twenty cent range since announcing blockbuster approval news earlier this year.
The stay at twenty cents might not be for long, however, as pending developments could provide further catalysts to higher prices.
The company plans to initiate a staggered launch of CytoSorb in Europe later this year, and there has been talk that it could land a contract from the US government for military use.
Investors are still looking for information regarding the secondary endpoints of the recently-completed European trial that could provide a look at just how much market penetration CytoSorb could achieve. Regardless of the secondaries, however, this product will be on the commercial market later this year and the potential applications for its use in conditions with indications of high cytokines - outside of just severe sepsis - may only grow from that point.
Well worth watching. As we saw earlier this year when the stock ran from fifteen cents to over forty, this one can move quick when warranted.
BDSI: Although quiet lately, BioDelivery Sciences is not one to drop off the radar. Various updates have been provided regarding a resolution to the REMS issues for the long-approved Onsolis. Resolution on that front would allow for increased market potential for Onsolis, more revenue potential for BioDelivery, at a time when the company's pipeline of products using its proprietary BEMA drug delivery technology is relatively full.
In the third quarter, BioDelivery is scheduled to announce results from a trial conducted utilizing the BEMA technology to reduce chronic pain.
Keep an eye on this one, as the long silence might end up being looked back upon as a period of solid accumulation.
Could end up being a bargain down towards three bucks.
SIRI: Just as quickly as it dropped to below the two dollar mark, the SiriusXM stock rebounded and again proved to be a nice trader's play.
Things could still get interesting for the company as the Howard Sterm lawsuit has been making headlines again, and some speculate that it could do damage to the SIRI stock if the self-proclaimed "King of All Media" gets his way.
IMUC: Could be worth taking a look as it ticks back towards the two dollar mark. This company has loads of potential in the cancer immunotherapy sector and could end up becoming the leader of the next generation of cancer immunotherapies.
Watch-list this one around the two dollar mark.
CELH: Now into the third quarter, if second quarter numbers look as solid as first quarter, then a rebound will be in order for shares of Celsius Holdings, after spending most of 2010 getting hammered.
Disclosure: Long TTNP, CELH, CDXC, CPST, CTSO.
Happy Fourth, and enjoy the week.
Also see: News, Notes and Weekly Stock Watch at VFC's NEW Stock House.
It'll be a short trading week after a long weekend, but there's still always stories to tell...