I strongly suspect this is a run-up to Takeda's 27/1/13 NDA on NESINA. NESINA is already on sale in Japan and has a sales run-rate of $475m there. Furiex is entitled to a $25m milestone on US approval & royalties of 7%-12%.
This is also a resubmission as the FDA turned down the original NDA - as they wanted to see more safety data (given general nervousness over side-effect profiles of diabetes medicines). I'd give this 2nd NDA a very good chance of approval - as the FDA have narrowed their concerns to getting more safety data which Takeda included in their resubmission.
If this is approved, then I'd expect a pop to the $25-$30 price range. I'd sell out quick & come back in late 2013 for the MuDelta Phase III readout - probably due in Q1 14.
Welcome back Biff. Yes, interesting action this year thus far. My guess is the Alogliptin FDA decision coming in late January. Looks like positive momentum is starting.
Do you know the exact date of the decision??