Odds Increase for Approval of Incyte's Myelofibrosis Drug
Prohost Biotech submits:We will not lose our breath running after all the news posted about the biotech industry. We will restrict our selection to the most significant announcements. While there is good news about biotech firms’ breakthroughs, it is lost amid the mass of articles announcing or assessing the firms’ finances, routine events, meetings and plans (that may or may not come to pass), in addition to results from very early-phase trials that mean very little at their stage. The excessive amount of news has become confusing, especially since many are not mere news, but opinionated articles that contradict each other’s opinions with or without relevance.A case in point, Dendreon’s (DNDN) Provenge, the firm’s prostate cancer vaccine has just reached the market and yet, we are bombarded every day with articles, some highlighting the vaccine while others doubting its value. Each group has its backers of physicians, researchers and specialized analysts. It is obvious that what is meant to be read and believed is not about the vaccine’s efficacy or the lack of it, but about the stock price. Since the FDA approval of Provenge, DNDN has tremendously risen and risen again on good news about reimbursement, then on news that a prostate cancer drug developed by another firm has failed. The negative investors are finding it an opportunity to short the stock and advocate not buying it. Those who are positive on DNDN are advocating the opposite. One of these two opposing groups will win in the short term. We have no way to pinpoint the winning or losing group. The whole thing has come down to gambling, which is not our business.Complete Story »
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