It'll be a short trading week after a long weekend, but there's still always stories to tell ...
(NASDAQ:TTNP): Titan Pharmaceuticals provided quick resolution to the potentially troubling concerns of the prior weekend when the FDA indicated that it wanted to alter the Statistical Analysis Plan (SAP) for the completed Phase III Probuphine trial. Titan had filed the SAP with the FDA during the third quarter of 2010, so the seemingly last-minute interjection by the FDA was enough to incite panic that caused the TTNP share price to hit $1.30 shortly after the news was announced.
On Thursday of last week, Titan issued an update that settled nerves and the company's share price climbed to over $1.80 before closing the trading week at just under that mark.
What the FDA is looking for is relatively minor, just confirmation that those who claimed to have used opioids actually did. Titan will immediately unblind the data, get to work analyzing it and have results out by the end of the month.
That bodes well for shareholders of Titan who, just one week ago, were starting to get a little nervous about a trial that most expect to come out positive since it's been labeled as a "confirmatory" trial, to confirm the positive outcome of those held previously.
Keep an eye on this one, as the unblinding and analysis of the Probuphine data could provide a nice July catalyst.
Two key catalysts in play turned out in Dendreon's favor.
The FDA granted approval for its Los Angeles Provenge manufacturing facility - which adds another 36 work stations to the already-approved 48 - and the U.S. Center for Medicare and Medicaid Services issued a final "good to go" ruling on Provenge being covered under those services.
DNDN traded with volatility on the news releases, actually declining after the approval news, but rebounded on Friday to head into the long weekend on an up-note.
These positive decisions were expected by most, but they go a long way to cementing Dendreon as a definitive leader in cancer treatment moving forward.
For those with a long term outlook, any dips or sustained trading below the forty dollar level might just be decent buying opportunity.
Watch the trading this week, some of the established volatility could continue.
(NASDAQ:AMZN): This one is unlikely to play with the share price much, but it'll be well worth watching the developments taking place at Amazon after the company decided to fight California's new law requiring online retailers to pay sales tax on products sold.
California's law, according to published reports, is intended to level the playing field between retailers with a physical presence in the state and the onliners with no presence, but we all know that California is bankrupt, so this action is solely geared towards suring up an empty bank account - any other intentions of "fairness" are purely political fluff to get the bill passed.
The power behind the bill, according to Governor Jerry Brown, lies in the fact that Amazon has affiliates located in the state who drive traffic to the powerhouse online retailer, therefore California is due its 7%-plus cut of the sale.
It's expected that Amazon will file suit against the state in response - it also has a case pending in New York (another state where irresponsible politicians have nearly ran the government broke) - and other states have already followed the path set by California and moved towards enacting legislation to collect similar taxes.
On an interim basis, Amazon may discontinue its relationship with all affiliates located in California. Ironically enough, the percentage on sales received by the Amazon affiliates is very significantly less than the cut that California is looking to take.
A development worth watching, as it could have serious ramifications for online retailers everywhere.
(NASDAQ:SIGA): Encouraging news released last week didn't do much for the share price as SIGA ticked lower even after Chimerix withdrew its appeal to the recent awarding of a BARDA contract that has the company set to provide the US national biodefense stockpile with 1.7 million doses of its ST-246 smallpox antiviral.
According to statistics presented on Yahoo! Finance, SIGA's short interest is roughly 20% of the float, a significant number for a company that has so much going for it right now.
The slip to below ten bucks, while discouraging to some investors, might have provided a nice entry point for those looking down the road. Now that the BARDA contract award is able to move forward without impediment, the US Government will start transferring money into the SIGA bank accounts immediately, and this could just be the beginning of a relationship that lasts a long time.
The heavy short interest may keep some downward pressure on the stock over the short term, but SIGA should have no trouble surpassing its 52-week highs over the mid to long term.
Definitely a story worth watching.
(NASDAQ:CPST): Capstone spent the past couple of weeks rebounding off the floor of a recent dip that resulted when the company announced earnings that didn't demonstrate increasing revenues and margins at a pace fast enough that could thwart an attack by heavy short interest.
Capstone, however, has inched higher over the past week, and the rise could continue.
The last earnings report was an encouraging look into the future as backlog and orders continue to grow. The global shift is towards cleaner energy, and the low-emission microturbines that this company has to offer fit right into that profile.
As CPST continues to inch higher, it's worth at least keeping this one on the watch list.
(CTSO): Cytosorbents looks to have found a home in the twenty cent range since announcing blockbuster approval news earlier this year.
The stay at twenty cents might not be for long, however, as pending developments could provide further catalysts to higher prices.
The company plans to initiate a staggered launch of CytoSorb in Europe later this year, and there has been talk that it could land a contract from the US government for military use.
Investors are still looking for information regarding the secondary endpoints of the recently-completed European trial that could provide a look at just how much market penetration CytoSorb could achieve. Regardless of the secondaries, however, this product will be on the commercial market later this year and the potential applications for its use in conditions with indications of high cytokines - outside of just severe sepsis - may only grow from that point.
Well worth watching. As we saw earlier this year when the stock ran from fifteen cents to over forty, this one can move quick when warranted.
(NASDAQ:BDSI): Although quiet lately, BioDelivery Sciences is not one to drop off the radar. Various updates have been provided regarding a resolution to the REMS issues for the long-approved Onsolis. Resolution on that front would allow for increased market potential for Onsolis, more revenue potential for BioDelivery, at a time when the company's pipeline of products using its proprietary BEMA drug delivery technology is relatively full.
In the third quarter, BioDelivery is scheduled to announce results from a trial conducted utilizing the BEMA technology to reduce chronic pain.
Keep an eye on this one, as the long silence might end up being looked back upon as a period of solid accumulation.
Could end up being a bargain down towards three bucks.
Things could still get interesting for the company as the Howard Sterm lawsuit has been making headlines again, and some speculate that it could do damage to the SIRI stock if the self-proclaimed "King of All Media" gets his way.
(OTCQX:CELH): Now into the third quarter, if second quarter numbers look as solid as first quarter, then a rebound will be in order for shares of Celsius Holdings, after spending most of 2010 getting hammered.
Disclosure: Long TTNP, CELH, CDXC, CPST, CTSO.