Seeking Alpha
Profile| Send Message|
( followers)  

So far, 2012 has been the best year for the biotechnology and drugs industry. So many stocks surged in the last four months based on clinical trial results, FDA approvals, FDA advisory committee recommendations, European commission approvals, recommendations from independent committees, partnerships with big pharmaceuticals, acquisitions, and so on.

In this article, I will focus on biotechnology stocks that have huge upside potential in June due to the ASCO 2012 meeting. There are so many biotechnology companies presenting in ASCO 2012. In this article, I will focus on the first set of stocks, and will continue the series later this week. The objective of this article is to provide preliminary background about the biotech stocks that are participating in ASCO 2012.

Biotech stocks are high risk/reward stocks and therefore considerable analysis is required before trading. Use this list as a potential starting point for your analysis.

The American Society of Clinical Oncology (OTC:ASCO) is a professional organization representing physicians of all oncology subspecialties who care for people with cancer. ASCO members lead the fight for more effective cancer treatments, increased funding for clinical and translational research, and, ultimately, cures for the many different types of cancer that strike an estimated 10 million people worldwide each year.

With over 30,000 attendees, the ASCO Annual Meeting is one of the largest educational and scientific events in the oncology community. The five-day event provides a venue for physicians and scientists to present research results to a global audience of oncology professionals. Clinical trial results and updates presented at ASCO's Annual Meeting represent the extent of progress made each year in the fight against cancer.

The 2012 ASCO Annual Meeting will be held at McCormick Place June 1-5, 2012, in Chicago, Illinois. The following are the biotechnology companies that are part of the ASCO 2012 meeting:

  1. Dendreon Corporation (NASDAQ:DNDN):

Dendreon Corporation, a biotechnology company, engages in the discovery, development, and commercialization of novel therapeutics to enhance cancer treatment options for patients. Dendreon's first product, PROVENGE (sipuleucel-T), was approved by the FDA in April 2010. Dendreon is exploring the application of additional ACI product candidates and small molecules for the potential treatment of a variety of cancers.

Dendreon will be presenting the PROVENGE (sipuleucel-T) data at the American Society of Clinical Oncology (OTC:ASCO) Annual Meeting.

The schedule and the details of the presentation can be found here.

Dendreon has a market cap of 1.12B and it is currently trading around $7.27 with a 52-week range of $6.46 to $42.87. The stock has -4.34% price performance for the year 2012.

  1. Eli Lilly & Co (NYSE:LLY):

Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products. The company also has an animal health business segment.

Eli Lilly and Company will present data from several molecules that make up its clinical oncology pipeline during the 48th Annual Meeting of the ASCO 2012. Lilly's early-stage pipeline molecules will be featured at oral presentations at ASCO with two first-in-human Phase I studies, oral NOTCH inhibitor LY900009 and the other for its oral p38 MAPK inhibitor LY2228820 dimesylate. Another oral presentation will highlight LY2780301, an oral P70S6K/AKT inhibitor, a first-in-human Phase I study of patients with refractory solid tumors. Lilly will also present several trials-in-progress posters representing a portion of the broad Phase III clinical development program for ramucirumab, a fully human IgG1 monoclonal antibody receptor antagonist designed to bind to the extracellular domain of vascular endothelial growth factor receptor-2 (VEGFR-2).

The detail list of abstracts and schedules can be found here.

Eli Lilly & Co has a market cap of 46.93B and it is currently trading around $40.44 with a 52-week range of $32.05 to $41.50. The stock has -0.3% price performance for the year 2012.

  1. ARIAD Pharmaceuticals, Inc (NASDAQ:ARIA):

ARIAD Pharmaceuticals, Inc., an oncology company, focuses on the discovery, development, and commercialization of medicines for cancer patients.

ARIAD Pharmaceuticals will present its updated clinical data from the pivotal PACE trial of its investigational, pan-BCR-ABL inhibitor, ponatinib at the Annual Meeting of the ASCO 2012 on Monday, June 4, 2012, 9:00 AM (CT).

ARIAD Pharmaceuticals has a market cap of 2.65B and it is currently trading around $15.98 with a 52-week range of $7.55 to $17.60. The stock has 30.45% price performance for the year 2012.

  1. Array Biopharma Inc (NASDAQ:ARRY):

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases. The drug development pipeline includes clinical candidates that are designed to regulate therapeutically important target pathways. The company's drug candidates include AMG 151, MEK162, ARRY-380, ARRY-520, ARRY-543 and ARRY-614.

Array Biopharma will present three oral presentations, on its two MEK inhibitors, selumetinib (AZD6244) and MEK162 at the ASCO 2012. The abstract details and schedule can be found here.

Array Biopharma has a market cap of 319.12M and it is currently trading around $3.58 with a 52-week range of $1.58 to $4.10. The stock has 65.74% price performance for the year 2012.

  1. CytRx Corporation (NASDAQ:CYTR):

CytRx Corporation as (CytRx), incorporated in 1985, is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics, specializing in oncology.

On May 7, 2012, CytRx announced that complete data from the company's Phase 1b/2 clinical trial with its proprietary doxorubicin tumor-targeting conjugate INNO-206 in patients with advanced solid tumors (primarily soft tissue sarcomas) will be featured in a poster presentation at the 2012 annual meeting of the American Society of Clinical Oncology (ASCO) 2012.

The details of the abstract and schedule can be found here.

CytRx has a market cap of 67M and it is currently trading around $2.96 with a 52-week range of $1.68 to $6.93. The stock has 51.02% price performance for the year 2012.

  1. Exelixis, Inc (NASDAQ:EXEL):

Exelixis is a biotechnology company engaged in developing small molecule therapies for the treatment of cancer. The company is focusing its resources and development efforts on cabozantinib (XL184). It also has a portfolio of other compounds.

On May 16, 2012, Exelixis announced that the clinical data for cabozantinib will be featured in four oral presentations, four poster discussion presentations, and one general poster presentation. The company will also host an investor briefing that will be webcast live on Monday, June 4, 2012. The abstract details and schedule can be found here.

Exelixis has a market cap of 684.49M and it is currently trading around $4.61 with a 52-week range of $3.94 to $12.01. The stock has -2.74% price performance for the year 2012.

  1. Galena Biopharma Inc (GALE):

Galena is pursuing cancer therapies utilizing peptide-based immunotherapy products, including its main product candidate NeuVax (E75), which is in Phase 3 PRESENT trial for the treatment of various cancers. It also develops Folate Binding Protein-E39, a targeted vaccine that is in Phase 1/2 clinical trial for the prevention of recurrence in gynecological cancers, such as ovarian, endometrial, and breast cancers.

Galena will be presenting "Safety and Long-Term Maintenance of Anti-HER2 Immunity Following Booster Inoculations of the E75 Breast Cancer Vaccine" (Abstract #2529) during the ASCO 2012 poster session. Galena will also be hosting a panel entitled, "HER2 Targeted Cancer Therapies" on Monday, June 4, 2012 from 11:30 AM to 1:00PM CDT. The details of the abstracts and schedule can be found here.

Galena Biopharma has a market cap of 97.80M and it is currently trading around $1.49 with a 52-week range of $0.36 to $3.54. The stock has 217.02% price performance for the year 2012.

Sources: Some of the data is sourced from Google Finance, Yahoo Finance, Finviz, Fidelity and investors site.

Continue to Part 2 >>

I change my positions very frequently and may initiate either long or short positions in the above mentioned stocks at any time.

Disclaimer: I am not a registered investment advisor and do not provide specific investment advice. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock you should do your own research and reach your own conclusion. It is up to investors to make the correct decision after necessary research.

Source: Biotechnology Stocks To Watch Ahead Of ASCO 2012: Part 1