The dermatitis/psioris drug may be their best shot at a blockbuster, but it is the toenail fungus topical drug, Tavaboroale, that is driving the PPS right now.
Though there is certianly a market here (the only existing topical requires the nails to be cliped out every month while the treatment acts), ANAC's drug was viewed as second fidle to Valeant's Efinacanaole. First, Valeant was ahead in the race to market, second their trial had a better point value that ANAC's.
But that changed for 2 reasons. Valeant got CRL'd because they had leaky caps on the bottle and that set them back a year (yep, really). So now the race to market is neck and neck. As to the trial data, ANAC pulled out some data with explanations as to why these cross trial comparisons can be tricky. This seams to be valid, so it is unclear which drug will sell better.
They also have a lawsuit (in arbitration) against Valaent on some IP issues here also. That would be a big win for them if it happens, should know late September. I have no idea how to handicap that.
In view of this, the rise in PPS to the low 8's seamed very reasonable over the last month.
But this recent pop semas to be caused by a market reacion to the CFO buying a decent amount of stock on the open market. I am always skeptical on such runs, but take it whoever you wish.
Mordin, I don't know the company but I have researched their lead drug, Tavaborole, a topical antifungal. Good NDA quality data and most importantly it is more efficacious than the soc. This company based on this 1 drug is a keeper. Deserves more DD by myself. Good luck.