Maybe. it often moves double the bio indexes up or down. so I don't know if it got ahead or not. I think technically it was overbought. Maybe the drop will help the charts some. mongus might be better able to answer that. It does seem like the selling pressure subsided today as we finished green.
i'll take what we can get. it was an ugly couple days trading down while the market and biotech was up.
From Leerink: For NBIX, the data, as well as the company's
APA event in the evening, offered incremental positives relative to the
American Academy of Neurology (AAN) presentation. Meanwhile, for
TEVA, the APA poster represents the first time that SD-809 TD data
were presented beyond the prior top-line release last summer. While
our TD revenue model continues to assume a 50/50 market share split
which reflects TEVA's significant commercial advantage in neurology, the
APA presentations reaffirm our confidence that despite the compounds'
identical mechanisms-of-action, valbenazine may have an incrementally
better product profile.
Are we really looking at a year plus for an FDA decision under Fast Track Status? i don't really know, but I was hoping for a quicker decision.
Frogs, I thought you used to be in the $90+ camp for a buyout? What happened? General biotech atmosphere not as favorable?
Kevin said at conference today that there is a six month continuation period for 2nd endo trial plus another year of safety data and that the FDA said they wanted it all before filing an NDA. Sounds like NDA won't be until 2nd half of 2017 if this schedule is accurate.
A 100% premium from the current price for buyout seems a bit a rich to me. Would love it, but I think I'm closer to $70 for a near term buyout (next couple of months) given the current biotech landscape.
Trading down with biotech in general which is being slaughtered. NBIX's future depends on VMAT results due out in the next week or two. If positive (which many expect with no guarantees), all will be fine.
Bier, careful on Linn. Don't know alot about it, but see this article today:
I think NBIX has the potential to run up some to Fibroid results in Sept/Oct time frame. It always seems like NBIX has a good run prior to results being released. Assuming the overall market doesn't take a big downturn, i could see this thing run to $60 or higher by September/October. JMO