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Below is a selection of companies with stock prices below $5 per share, market caps below $100 million, and upcoming binary events in the form of FDA news / decisions or clinical trial results.

1.) Aastrom Biosciences (NASDAQ:ASTM) ($1.48, $42 million market cap)

ASTM is evaluating its autologous (patient-derived) vascular repair cells (VRCs) and cardiac repair cells (CRCs) in a pair of ongoing, Phase 2 (IMPACT-DCM and RESTORE-CLI) clinical trials. The RESTORE-CLI study is for the treatment of critical limb ischemia (CLI) with expected six-month data for all patients during 4Q10 while the IMPACT-DCM study is for the treatment of patients with severe heart failure (dilated cardiomyopathy or DCM) with expected six-month interim data for all patients during 4Q10.

2.) Columbia Labs (NASDAQ:CBRX) ($1.06, $70 million market cap)

CBRX is evaluating PROCHIEVE 8% (progesterone gel) in a pivotal Phase 3 (pregnant) clinical trial to reduce the risk of pre-term birth in women with a short cervix at mid-pregnancy with expected top-line results by year-end 2010 (expects last infant to be born as late as mid-November and will report results 4-6 weeks later) to support a potential New Drug Application (NDA) filing next year.

3.) Spherix (NASDAQ:SPEX) ($1.22, $21 million market cap)

Completed patient enrollment in early 2010 for D-tagatose as an experimental oral treatment for Type 2 diabetics and expects to complete the Phase 3 efficacy study during 3Q10 while the safety portion of the study is expected to be completed in early 2011. SPEX has also provided guidance for additional testing (i.e. a larger body of evidence to evaluate safety for diabetes drugs) before a potential NDA filing.



Disclosure: No positions

Source: 3 Biotech Stocks Under $5 With Upcoming Binary Events