Nasdaq Biotech Index Loses Ground But Genta Steals Show
The NBI dropped a little more than 0.15% but Genta gained all the attention as the stock gained more than 25% on the day, following Friday's big gain and positive news regarding its melanoma drug. Investors are bidding that an October FDA decision regarding Genta's clinical trials will be favorable.
Given the fact that Genta's stock price has dropped explosively over the last couple of years, and that the FDA has already declined the company's application for its lead drug, the likelyhood of a favorable FDA ruling this time around is quite small.
But, even the wildest imagination cannot predict how high the stock price will rise if the FDA panel is having a good day in October.
The NBI dropped a little more than 0.15% but Genta gained all the attention as the stock gained more than 25% on the day, following Friday's big gain and positive news regarding its melanoma drug. Investors are bidding that an October FDA decision regarding Genta's clinical trials will be favorable.
Given the fact that Genta's stock price has dropped explosively over the last couple of years, and that the FDA has already declined the company's application for its lead drug, the likelyhood of a favorable FDA ruling this time around is quite small.
But, even the wildest imagination cannot predict how high the stock price will rise if the FDA panel is having a good day in October.
posted by Nico at
8:45 PM
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