We have purchased shares of HNAB.OB (Hana BioSciences, Inc.). We normally do not purchase/alert OTC:BB stocks, but Hana is not your typical bulletin board stock. They are about to commence a rolling NDA submission for Marqibo after their meeting with FDA this quarter (pivotal phase 2 trial has been completed and if all goes as planned, the NDA will be submitted for treatment of 2nd relapse ALL in the 2nd half of 2010). Hana is greatly undervalued here, in our opinion. Late last year (2009), they were delisted from NASDAQ due to not meeting the minimum stockholders equity requirement. In December 2009, Hana announced results from their pivotal phase 2 study in ALL, the data was positive, but the stock took a tumble almost down to the 52wk low. The data is supposed to be updated at ASCO this June, which should provide a nice pop in the share price.
Marqibo is a version of an already used chemotherapeutic, but it is much more effective because it is built upon optisome nanoparticle technology (or "optiosmes"). Optisomes are a new generation of unique sphingomyelin/ cholesterol-based nanoparticles designed to encapsulate cell cycle-specific chemotherapeutics. Marqibo is being tested in multiple indications: front-line elderly PH(-) ALL, front-line aggresive NHL, pediatric cancers, and multiple myeloma.
But, Marqibo is not Hana's only product. They also have Alocrest (for the treatment of breast and lung cancer), Brakiva (for the treatment of SCLC and ovarian cancer), and Menandione Topical Lotion (for the treatment of skin rash associated w/ EGFR inhibitors. Examples of EGFR inhibitors are Tarceva®, Erbitux® and Vectibix®.). Please note, however, that these other three compounds are in early stages of testing (i.e phase 1 or 2).
Make sure to take a look at Hana's corporate presentation from January 11, 2010.
If all goes as it should, Hana could be one of the biggest "BioShockers" of the year.
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Disclosure: Long HNAB.OB