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Biotech Forum Daily Digest - FDA Blesses Amicus Therapeutics, Ocular Therapeutix Rebounds

Jul. 11, 2017 10:32 AM ETALNY, PFE, BMRN, FOLD, PPBT, OCUL, QURE, SHPG, TTPH21 Comments


  • The main biotech indices traded down on Monday in a slightly positive overall market. Once again, there was no "Merger Monday" for the industry.
  • The FDA issued a ruling that should be positive for rare disease concerns and Ocular Therapeutics rebounded early today on progress resolving a FDA action.
  • All the other notable news, events and analyst ratings from across the industry are below. We also revisit Amicus Therapeutics after a key FDA decision in today's Spotlight feature.

I am a great believer in luck, and I find the harder I work, the more I have of it” - Stephen Leacock

The biotech sector headed down in trading to open the trading week Monday while the overall market was slightly positive. The main biotech indices lost approximately three quarters of a percent Monday but are still about three percent above long-term resistance levels they went through in late June.

Once again, there was no significant acquisition activity to open the week or "Merger Monday". New leadership at the FDA is definitely making it a more friendly agency to the industry and that could help the rare disease concerns in trading this week (see Spotlight feature below).

Author's note: To get these Biotech Forum Daily Digests as soon as they are published, just click on my profile, hit the big, orange "Follow" button, and choose the real-time alerts option.

Nano cap Kitov Pharmaceuticals (KTOV) continues to be a day trader's dream over the past week. The thinly traded shares have had several huge moves, up and down, over the past five trading sessions. Today, the name is down big to start trading after announcing a secondary offering. This is why I never invest in the microcap part of the sector - just way too much volatility for me.

Ocular Therapeutix (OCUL) had a brutal sell-off late last week triggered by a couple of bearing articles on the name (I, II). While these pieces contain some hyperbole, management has been less than forthcoming about resolution to some manufacturing issues related to the production of DEXTENZA which had a PDUFA date of July 19th. Today, the shares are rebounding more than 15% after the company announced that it had addressed all Form 483 observations that

This article was written by

Bret Jensen profile picture
Finding tomorrow's big winners in the lucrative biotech sector

Finding tomorrow's big winners in the lucrative biotech sector, The Biotech Forum focuses on proprietary, breaking research on promising biotech and biopharma stocks with significant potential for outsized alpha. It is the fourth most subscribed to investment service offered through the Marketplace on SeekingAlpha.com. Our service offers a model-20 stock portfolio as well as the most active Live Chat on the Marketplace. This is where scores of seasoned biotech investors trade news and investment ideas back and forth throughout the trading day.

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Specializing in profiling high beta sectors, Bret Jensen founded and also manages The Biotech Forum, The Insiders Forum, and the Busted IPO Forum model portfolios. Finding “gems” in the biotech and small-cap stock sectors, these highly volatile spaces proven hugely successful have empowered Bret Jensen's own investing portfolio.

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Analyst’s Disclosure: I am/we are long FOLD, OCUL. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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