Monday, April 09, 2007

Vaino's Biotech Corner Portfolio Update

by Andrew Vaino
Vaino's Biotech Corner



There have been some substantial moves in the BC tracking portfolio of late that I feel bear mentioning.

Clearly Biosante (BPA) has done well and is up 61%, though I am starting to wonder if it’s time to take profits here.

I still like Halozyme (HTI), up 240%. The stock has come down a bit the past few weeks but I still like it long term and don’t see any need to sell.

The Amylin (AMLN) 40 calls (YNN AH) are under water but, again, I like this company long term and am not worried about this.

Innovio (INO) is up a bit. This stock isn’t exciting me, but I think the company has potential and see no reason to sell.

Dendreon (DNDN) did exactly as I predicted last week and is up 29%—not bad for four days. The stock took off further Monday morning and is now trading above $20. I'm not sure how much of this is shorts covering and how much is hubris: either is working for me! To be safe I would put in a stop sell order at $20, this locks in a nice 42% profit.

Conjuchem (CJB.TO) took a big hit (down 25%) on results of a phase 1/2 clinical study of their diabetes treatment. Their PC-DAC form of Exendin-4 did produce relevant reductions in blood glucose levels, but at the highest dose 1 in 5 patients experienced nausea. This adverse event caused some analysts to suggest that the PC-DAC Exendin-4 would not be able to compete with Amylin’s long release form of Byetta.

For right now I’m not convinced this result is that bad. The diabetes market is huge and, thanks to excessive intake of carbohydrates since the mid 1980s, is growing fast. For a stock trading at 50 cents Conjuchem won’t have to take a huge slice of the diabetes pie to justify doubling or tripling in share price, and I see this as a buying opportunity.


Source: PeterNavarro.com



RELATED READING:
- Right on, Dendreon!
- Tiny Biosante Could Skyrocket with Estrogen Replacement Gel
- Conjuchem Biotechnologies: A Risky Canadian Diabetes Play
- Inovio Biomedical: Tumor Ablation Technology Tempting to Big Pharmas
- Halozyme Signs Deal with Roche, Continues to Impress

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