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Trade Updates - Rigel Pharma, KaloBios Pharma

|Includes:KaloBios Pharmaceuticals (KBIO), RIGL

The Nasdaq Bio Index is up a solid 1.48% to start off the week. Oxigene is off to a strong start, up over 7% thus far for the day. I added two new positions to my portfolio late last week.

I purchased 3,000 shares of KaloBios (NASDAQ:KBIO) at $3.09. The company is expected phase 2 results in the 4th quarter for cystic fibrosis patients with chronic PA lung colonization. They also expect phase 2 results on their trials in AML and MDS (Leukemia) in the 2nd quarter of 2015. They have two solid partnerships with Sanofi and Novartis as well as $76 million in cash (end of Q4) which makes me feel better about investing in a company with a small market cap of $101 million. They are a long ways away from getting a product to market but at $101 million and for the reasons mentioned above, they seem to be a great value.

 

KBIO

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3.07

     

4,000

$3.0884

-$83.59

-0.68%

$12,280.00

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I purchased 3,000 shares of Rigel (NASDAQ:RIGL) at $3.98 and to my surprise the stock jumped up over 13% by the end of the week so it's currently trading at $4.50. They have phase 2 results in dry eye expected in the 2nd half of the year and they are also initiated a phase 3 study of their drug to treat ITP, an autoimmune disease that affects approximately 60,000 people in the United States. They have a very strong cash position of $212 million as of the end of the year and partnerships with AstraZenenca, BerGenBio, and Daiichi Sankyo.

 

RIGL

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4.58

     

3,000

$3.9792

$1,792.41

15.00%

$13,740.00

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Disclosure: I am long KBIO, RIGL.

Stocks: KBIO, RIGL