Two stocks of note in the past week are Jazz Pharmaceuticals (JAZZ) and Transcept Pharmaceuticals (TSPT). Last week, Transcept attended the BioCentury Thomson Reuters Newsmakers in the Biotechnology Industry Conference on Sept 16, 2009. Jazz was also in attendance. It seems this conference is playing out as stocks have risen in the last week.
Transcept's stock has risen from a low of 11.00 before the conference to its current trading at 13.75. This is a fast rising company in its first year on Nasdaq. Jazz has jumped from a low of 9.16 to its current trading value of 9.72. Jazz has been up from earlier news that the CEO purchased 150,000 shares on Sept. 1-2, 2009 at 7.21 a share (Jazz Pharmaceuticals Running On Buy From Smart Investor).
Although these stocks are running on Phase III highs I still like the buy option on both of these trades. NDA applications for Jazz have been received I see them reaching higher and higher levels into 2010. 3Q and 4Q should be good for both companies as sales should be ramping up. Transcept Pharma announced earlier from Glenn A. Oclassen, President and Chief Executive Officer commented, "Our overall staffing needs have been modified by the development of Intermezzo(R) to the point of NDA submission and our recently announced agreement with Purdue Pharmaceuticals to commercialize Intermezzo(R) in the United States.
Jazz Pharmaceuticals has completed a second Phase III pivotal clinical trial of JZP-6 on June 11, 2009. With positive results in the second study, the company anticipates submitting a New Drug Application for sodium oxybate for the treatment of fibromyalgia to the U.S. Food and Drug Administration by the end of 2009.
- StreetInsiders market profile for Jazz Pharmaceuticals.
- StreetInsiders market profile for Transcept Pharmaceuticals.
Jazz has four products in the pipeline for Fibromyalgia, Restless Leg Syndrome, Acute Repetitive Seizures, and Epilepsy/Bipolar Disorder. They are seeking partners for the lower clinical trials in phase I/II (Jazz Pipeline).
Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience. Transcept has only one clinical products for insomnia patients who wake up in the middle of the night.
Intermezzo ® (zolpidem tartrate sublingual tablet) is a sublingual low dose formulation of zolpidem that has been developed for use as-needed for the treatment of insomnia when a middle of the night awakening is followed by difficulty returning to sleep. Phase 3 clinical trials have been completed for Intermezzo ® and, on September 30, 2008, Transcept submitted a New Drug Application to the U.S. Food and Drug Administration. Transcept anticipates action from the U.S. Food and Drug Administration (FDA) on its filed new drug application for Intermezzo ® on or before October 30, 2009.
Transept has a commercialization pact with Purdue Pharmaceuticals. Under the terms of the agreement, Purdue will pay Transcept near-term milestones that include an upfront cash payment of $25 million and an additional payment of up to $30 million based upon the timing of an FDA approval of Intermezzo®, which approval and payment are subject to review and acceptance by Purdue. Transcept is eligible to receive up to an additional $90 million upon reaching future milestones related to achievement of intellectual property and U.S. net sales targets.
Purdue will pay double-digit royalties to Transcept ranging up to the mid-twenty percent level on U.S. net sales of Intermezzo®. If Transcept elects to exercise its psychiatrist co-promotion option, Transcept will receive an additional double-digit royalty on the portion of U.S. net sales generated by psychiatrists. Under the agreement, Transcept can enter the market under the co-promotion option as early as the first anniversary of the commercial launch of Intermezzo® by Purdue.
This conference went on in New York. San Fransciso also had a conference on their own with the BioPharma America 2009 presentation. Here is a list of presenters at the BioPharma America Conference.
Disclosure: No positions