Antigenics' Current Price Is Irresistible

I've spent plenty of time discussing the potential of Antigenics (AGEN) as one of a few candidates to become the next Dendreon (DNDN) and I once again could not refuse adding to my position for just under $2.

As I've also mentioned before, AGEN is one of only a few stocks in which I'm willing to 'average up' in my position and this latest buy brings my average to just around the $1 level.

With news on the Russian launch of Oncophage just around the corner, in addition to news of Russian reimbursement and an EMEA decision on the kidney cancer vaccine, there's a lot of short term potential for an AGEN run. That's not even taking QS-21 into consideration, the company's vaccine adjuvant that is currently being used in experimental vaccines produced by GlaxoSmithKline (GSK).

Antigenics is also slated to present at this coming week's Rodman & Renshaw conference at 5:20 PM on Wednesday, September 9th. If Antigenics were going to release significant news in conjunction with their scheduled presentation, I'd expect a press release during Wednesday's trading day.

With a whole lot of potential for big news to be released at any time from now until the end of 2009, I couldn't resist adding shares of AGEN for $1.99.

Disclosure: VFC is long AGEN.