This is making it up a little late today as I had two conference calls and the Biodel story to cover this morning.
While the FDA has made its decision on drugs from Biodel (BIOD) and Avanir (AVNR) – in favor of Avanir’s Nuedexta and against Biodel’s Linjeta – there’s a ton of volatility in these two stocks. Where will the market decide the price should settle in these two cases? Typically a large pop in share price on drug approval is followed by a ‘run-down’ over the following months; will AVNR follow this trend?
Cadence Pharmaceuticals (CADX) has a PDUFA date with the FDA this Thursday for Ofirmev, its intravenous acetaminophen therapy for pain. Short interest is astronomical on this stock, currently making up over 50% of float. Generally, a short interest that high makes the stock a bit on the squirrelly end, indeed. Expect the unexpected in terms of price action this week.
That’s it. I think we could all use a lighter week after the excitement of the last month.
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