ONCE .....FDA did go against PANEL VOTE BUT THEN IMMEDIATELY APPROVED
Case of Valeant Pharmaceuticals’ (VRX) drug Potiga. A secondary treatment for seizures in epilepsy patients, Potiga was endorsed 13-0 by an advisory panel in August of 2010 only to be rejected by the FDA four months later. The drug was ultimately approved by the FDA in June of last year.
AFFY panel voted 15-1 to recommend the Affymax drug, saying the benefits outweighed the risks. (See Affymax’s Stock Soars on Hope for Anemia Drug Approval.) Affymax’s stock is up almost 70% this year on hopes the drug will be approved. The shares traded at $11.12 Friday morning.
Read more: http://www.minyanville.com/sectors/biotech-pharma/articles/map-pharmaceuticals-allergan-affymax-chelsea-therapeutics/3/9/2012/id/39823#ixzz1ovMqdfaq
VVUS constitute risk for such rejection as FDA Panel has approved this against REM to be compulsory for VIVUS if FDA decide to approve. But in case of AFFY the PANEL didnot asked such condition.
Can you please send a link or AF's Twitter text what he exactly suggested. Thanks!
In his 02-29-12 interview, he suggested that if AFFY approved, it may get into 15-16 range, into high teen is possible, but it will happen if very bullish in the environment.
STOP SPREADING LIES!
AF is wrong about his projection of AFFY's 300m MK. He was WRONG when back in November of 2011 he suggested the panel would not approve AFFY. They did, 15-1! He was WRONG about DNDN, he was WRONG about HGSI, and many more!
AFFY's market cap once approved will be near 750M and even more and thats why Rouche will buy them out!
To be fair to Adam Fruistein: He is not wrong, the guy is a smart fellah, he just has the power (the street dot com) to manipulate, to hedge by spreading lies (aka: his own opinions "do your own dd" etc) and retail usually eats it!