American Society Of Clinical Oncology Abstracts Point To Potential Profits
May 21 2013, 10:11 | includes: BAX, BSX, CLVS, CRIS, CTTC.PK, HALO, MDT, PFE, R, SYK, TSRO, VPHM
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
The American Society of Clinical Oncology (ASCO) posted its list of abstracts to be presented at the influential Annual Meeting May 30- June 4 last week and investors have been busy going through the information. Why? It is an accepted fact that biopharmaceutical and medical device companies that have an abstract being presented on their new drug or promising medical device can experience nice returns in their stock during this time. The challenge is to parse through all the abstracts and do the due diligence required to identify the company with the drug or medical device, ascertain whether the results of a clinical study are equal to or better than expected and buy before the annual meeting convenes May 30.
There are a number of interesting plays with this year's ASCO abstract list:
Halozyme (HALO) Market Capitalization--$851 Million. HALO will be presenting data from a clinical study of their drug compound for the treatment of pancreatic cancer and prostate cancer. Clinical data from a Phase Ib trial of PEGPH20 (PEGylated Recombinant Human Hyaluronidase), an investigational new biologic, in combination with gemcitabine for treatment of patients with stage IV metastatic pancreatic cancer will be presented. The company has already announced that based on the results of this study, the company has begun a Phase II multicenter, randomized clinical trial evaluating PEGPH20 as a first-line therapy for patients with stage IV metastatic pancreatic cancer. Analysts following HALO forecast a 30% increase in revenue year over year. With over $100 million in cash and drug development partners which include Baxter International (BAX), Pfizer (PFE), Roche and ViroPharma (VPHM), HALO is well positioned to advance their promising drug candidates through the clinical trial process. HALO is trading in the middle of its 52 week trading range at $7.57, well off its 52 week low of $3.86 but below its high of $9.92. Short interest is 9.659 Million shares (as of April 30).