My guess is that in the absence of any positive
news, it drifts with the NASDAQ (down). Buy now and see
what happens in the Q4.
In addition to Abbott,
I heard they are also talking with
There could be some interesting developments.
I don't own any yet but was thinking about buying
and holding some for a while to see where it goes. I
have just begun my research, however, that DHEA deal
from the other company sounds pretty weak to me. I
know the stock is heading back up, but why has it been
drifting down for so long?
There is lots of information on LJP 394 on the
LaJolla Website: http://www.ljpc.com
the molecule is a new chemical entity with a totally
new mechanism of action. It is not like DHEA at all
and is not subject to the 7 year restriction (as you
already mentioned). Although the LJP 394 molecule is an
oligonucleotide derivative, it does not work by an intracellular
antisense mechanism. Rather it binds to "bad" B cells (not
all the B cells) and renders them inactive towards
"self DNA" destruction (via antibodies). The LJP home
page explains this superbly.
position is very strong on this.
Now is a great
GNLB's 10-Q form shows their GL701 compound to be
good old DHEA, which you can now buy at 7-11 &
Wallmart. This doesn't really impress me too much. I'm not
sure what LJP394 is made of, but I am looking for
info. My assumption is that if a major pharm. company
like Abbott is interested in it there must be some
good science behing the drug. By the way, the 7 year
rule is to protect drug compounds only, not disease
treatments. Thus, if GL701 and LJP394 are different on the
molecular level, both can be sold to treat lupus.
GNLB has been granted orphan drug status and
supart E by the FDA for their lupus drug(GL701). My
understanding is that upon approval no one will be able to sell
another lupus drug in the US for seven years? Both GL701
our LJP394 are near the end of their phase 3 trials.
Please correct me if I am wrong.
Stocks like this just sit around and have small
runs in both
directions. The reason I like it is
they all ready have a corporate partner (Abbott) for
one of their drugs.
This is major validation.
They are in the process of looking for
partner for another one of their potential
Abbott owns equity, and they are flipping the bill. It
gamble that the drug will be make it. At
these prices, it is
worth the risk at least for me.
In biotech, if you don't have
the stomach and at
least a 3 year time frame, get out.
stock has its run, I want to be on board.