portefeuille (99.78)

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#1) On September 13, 2009 at 5:47 AM, portefeuille (99.78) wrote:

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BDSI closed at $4.72 on 09/11/09.

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#2) On September 13, 2009 at 5:53 AM, portefeuille (99.78) wrote:

BioDeliverSciencesBairdHealthcareConf09SEPT2009.pdf

BioDeliverySciencesRodmanRenshaw10SEPT2009.pdf

 

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#3) On September 13, 2009 at 6:04 AM, portefeuille (99.78) wrote:

BioDelivery Sciences Announces Issuance of U.S. Patent Extending Exclusivity for the BEMA Delivery Technology

BEMA® Technology

 

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BioDelivery Doesn't Stop With Onsolis Approval

Adam Feuerstein 07/27/09 - 11:08 AM EDT 

RALEIGH, N.C. (TheStreet) -- The post-drug-approval glow has gone missing from BioDelivery Sciences(BDSI Quote).

The U.S. Food and Drug Administration approved BioDelivery's cancer pain drug Onsolis on July 16. It's the company's first drug approval and an important validation for its drug delivery technology.

Yet, the stock has moved largely downhill since, with shares off as much as 25% from the intraday high of $7.25 on the day Onsolis' approval was announced. BioDelivery closed Friday at $5.38 a share.

A number of investors bought BioDelivery only for the Onsolis approval trade, never intending to own the stock for the drug's commercial launch. Thus, the sell-on-the-news reaction isn't a big surprise. Biotech catalyst trading -- whether it be clinical trial data or FDA approvals -- is increasing in popularity, especially for small biotech and drug company stocks that list under $10. BioDelivery was a $3 stock in March.

The vacuum left by the traders' exit from BioDeivery coupled with what should be a slow launch for Onsolis (more on that below) means longer-term investors have a chance to slowly build a position in the company.

Roughly speaking, BioDelivery looks fairly valued to me at its current price, which assumes $150 million in annual Onsolis sales at peak, of which the company receives 15% because its partner, the Swedish drug firm Meda AB, is selling the drug in the U.S. and Europe.

(BioDelivery management thinks Onsolis can achieve $200 million in annual peak sales, of which it gets a royalty of between 10% and 20% plus some sales-related milestone payments from Meda.)

The bigger opportunity in BioDelivery today is the company's pipeline, which is essentially valued at zero.

Onsolis is a thin film containing a dose of the powerful painkiller fentanyl that patients place on the inner lining of their cheek. The drug is approved only for patients with cancer-related pain that persists despite the continued use of oral opioids.

BioDelivery owns the polymer film drug delivery technology upon which Onsolis is based and which the company is using to develop other products.

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Dave emails to add something I missed in my column this week discussing the recent weakness in BioDelivery Sciences(BDSI Quote) and its cancer pain drug Onsolis.

"Keep in mind that you failed to turn up that one of the reasons for the sell off since June 15th is that Elliott Associates, which had 3.2 million shares have decided to sell down their stake," writes Dave. "They have done this bit by bit over five and half week now, and as of last week only had 265,000 shares left."

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(from here)

 

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#4) On September 13, 2009 at 6:26 AM, portefeuille (99.78) wrote:

Short Interest in BioDelivery Sciences Is Good News

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BioDelivery Sciences Receives $27 Million Milestone Payment from Meda AB

Anticipates Ending Year Cash Flow Positive from Operations with Recognized Revenue of Nearly $60 Million
Focus Now on Accelerating Pipeline
    •    Press Release
    •    Source: BioDelivery Sciences International, Inc.
    •    On Wednesday July 22, 2009, 7:00 am EDT
RALEIGH, N.C.--(BUSINESS WIRE)--BioDelivery Sciences International, Inc. (Nasdaq: BDSI - News) today announced receipt of $26.7 million in milestone payments from its commercial partner Meda AB in connection with the approval by the U.S. Food and Drug Administration (FDA) of BDSI’s breakthrough cancer pain product ONSOLIS™ (fentanyl buccal soluble film) and satisfactory preparation of commercial launch supplies.
In addition to the $26.7 million received, BDSI will also receive a double-digit royalty on net sales of ONSOLIS, and the potential for additional milestone payments of up to another $30 million upon the achievement of certain sales thresholds. ONSOLIS will be commercialized in the U.S. by Meda Pharmaceuticals, the U.S. subsidiary of Meda AB and is expected to be available for sale early fourth quarter of this year.
“The receipt of this milestone payment, together with approximately $5 million we have received from the exercise of outstanding warrants over the past several weeks, puts the company in the strongest financial position in its history, with approximately $30 million in cash and no long term debt. These funds allow us to immediately turn to accelerating the development of our exciting pipeline, particularly BEMA™ Buprenorphine and Bioral™ Amphotericin B, as well as to place a third BEMA product in the clinic next year,” stated Dr. Mark A. Sirgo, President and Chief Executive Officer of BioDelivery Sciences.
“In addition, we expect that receipt of these funds will leave BDSI cash flow positive from operations and with nearly $60 million in recognized revenue for 2009,” added Dr. Sirgo. “Moreover, with the launch of ONSOLIS expected in early fourth quarter of this year, we also expect that we will begin receiving royalty income. In short, our economic outlook and ability to execute our business plan have never been better.”
BDSI had previously recorded milestone payments from Meda as deferred revenue, and with the FDA approval, those amounts, together with the approval milestone, will be recognized as revenue to the company.
Dr. Sirgo also stated, “We anticipate significant news flow in the coming months regarding the launch of ONSOLIS by Meda Pharmaceuticals and the progress of our product pipeline. Of note, we anticipate year end results from our Phase 2 dental pain study with BEMA Buprenorphine, which we believe could lead to a sizable licensing transaction in 2010. We also hope to have completed our next Phase 1 trial with Bioral Amphotericin B this year before moving to Phase 2 in the first half of 2010. Now, with an FDA approved product in ONSOLIS, a validated technology in BEMA, an exciting pipeline of products and cash on hand, we believe that our ability to drive shareholder value has never been better.”
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#5) On September 13, 2009 at 8:01 AM, rofgile (98.99) wrote:

Hi Portefoullio:

 Could I give you a recommendation, as you are often in health/research/science picks?  

 There is a company called TOMO that I have been learning more about lately, that has developed a technique to functional level that is similar to confocal microscopy.  Their method uses x-rays, and allows a physician to deliver a specific blast of x-rays to an organ or tumor below the surface, focused on that 3d position, with much less x-ray hitting tissue above, below and around that spot.   This results in overall less x-rays being required for the patient, less tissue damage, and then less negative effects from chemotherapy.  Another plus is that it is a WI company - and while I haven't done the numbers, I think WI companies tend to do better than many other US states.

 -Rof 

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#6) On September 13, 2009 at 10:08 AM, portefeuille (99.78) wrote:

************************************************************************************

a guide to my blog posts can be found in the comment section to this post

(should be or should be close to the last comment)                                                                

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#7) On September 13, 2009 at 1:16 PM, topsecret09 (52.83) wrote:

Could I give you a recommendation, as you are often in health/research/science picks?  

 There is a company called TOMO. ( Here's another one for you....) I have 1000 sh at an average price $4.00 ,still think Its undervalued http://www.accuray.com/

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#8) On September 13, 2009 at 1:57 PM, checklist34 (99.79) wrote:

my one and only biotech pick in real life is ISV, now INSV.OB

i bought for like 27 cents, held through its approval and bump to 65 cents, then held the bag back to 35 cents or wherever it is now.  lol

i have share of JOEZ too.  I bought it at a p/e of like 2, now its 9 somehow, i guess someone lowered estimates.  i'm up on joez but i'm holding for 2 bucks or 0, whichever comes first.  

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#9) On September 14, 2009 at 5:48 AM, portefeuille (99.78) wrote:

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USD/KRW

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#10) On September 14, 2009 at 6:00 AM, portefeuille (99.78) wrote:

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South Korea’s Kospi to Rise to 1,800, Mirae Says

By Liza Lin and Saeromi Shin
Sept. 11 (Bloomberg) -- South Korea’s benchmark Kospi index may rise to 1,800 by the end of the year because of a rebound in corporate earnings, according to the country’s biggest seller of mutual fund products.
The forecast represents a 9.4 percent gain from yesterday’s close of 1,644.68, and the recovery in profits will help to “support” valuations, said Charles Kim, head of Korean equity sales at Mirae Asset Securities Co.
“More and more, we’re seeing positive earnings surprises,” Kim said in an interview today. “I strongly believe that the market is going to trend upward in the medium to long term despite the possibility of occasional mild correction.”
The Kospi trades at 14.46 times estimated earnings after a 47 percent gain this year. That’s lower than the 17.95 multiple for companies on the MSCI AC Asia Pacific excluding Japan Index, and is the fourth lowest in Asia ahead of the Philippines, Thailand and Pakistan, data compiled by Bloomberg showed.
Kim’s top picks include Hyundai Mobis, Samsung Electronics Co.,Samsung SDI Co.,NCsoft Corp.,Amorepacific Corp. and Hyundai Motor Co.
South Korea stocks are “relatively undervalued” in Asia given the outlook for earnings and gross domestic product, Kim said, adding that there will be continued foreign money coming into the market.
More Foreign Funds
Korea have attracted $15.5 billion of foreign portfolio investment in equities this year, the highest in Asia, according to data compiled by Bloomberg. Indonesia attracted $1.15 billion and India attracted $8.5 billion.
Credit Suisse Group AG raised South Korea to its most “overweight” stock market in Asia in a Sept. 1 report, saying key exporters may benefit from faster-than-expected global economic recovery and their improved global presence. The brokerage predicted the Kospi may rise to 1,800 in six months.
The Kospi rose 0.4 percent to 1,651.10 as of 11:37 a.m. today. The measure’s gain so far this year has trailed the MSCI AC Asia Pacific excluding Japan Index, which climbed 54 percent. South Korea’s exports fell for a 10th consecutive month in August as global demand for the nation’s automobiles, mobile phones, textiles and steel faltered.
Samsung, Hyundai
The decline may be less than global rivals. Samsung Electronics, the world’s second-largest mobile-phone maker, increased its share of the global market for handsets to 19.2 percent in the second quarter from 15.4 percent a year earlier, researcher Strategy Analytics said July 30. Hyundai Motor, South Korea’s biggest carmaker, boosted its U.S. market share to 4.8 percent in August from 3.3 percent a year earlier, the company said Sept. 1.

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KOSPI

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Samsung Electro-Mechanics

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#11) On September 14, 2009 at 6:08 AM, portefeuille (99.78) wrote:

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Emerging-Market Stocks Cut by Nomura on Valuations

By Stephen Kirkland and Laura Cochrane
Aug. 3 (Bloomberg)

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Nomura removed Old Mutual Plc, the biggest insurer in Africa, ICICI Bank Ltd, India’s second-largest lender, and MTN Group Ltd., Africa’s largest mobile-phone company, from its recommended global portfolio, Scott said. It added General Electric Co., the world’s biggest non-bank financial company, Aviva Plc, Britain’s largest insurer, Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, Wells Fargo & Co., the fourth-largest U.S. bank by assets, and Samsung Electro- Mechanics Co., a South Korean electronic-parts maker.

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(emphasis mine)

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#12) On September 14, 2009 at 6:12 AM, portefeuille (99.78) wrote:

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Samsung Elec, affiliate in LED venture

Tue Feb 17, 2009 6:18am GMT

SEOUL, Feb 17 (Reuters) - Samsung Electronics (005930.KS: Quote, Profile, Research) and its component affiliate will set up a light emitting diode (LED) venture, a move to boost its presence in the rapidly growing market for energy-efficient lighting technology.
LEDs consume less power and last longer than traditional light sources and are increasingly used in products from mobile phones to flat-screen televisions.
Leading players in the LED business include Philips (PHG.AS: Quote, Profile, Research), Toshiba Corp (6502.T: Quote, Profile, Research) and Siemens' (SIEGn.DE: Quote, Profile, Research) unit Osram. In South Korea, LG Group's LG Innotek (011070.KS: Quote, Profile, Research) is also expanding its LED business.
Samsung said the global LED market was expected to grow by about 20 percent annually over the next five years, from $5.2 billion in 2009 to $12.7 billion in 2013, citing research firm studies.
Samsung and its affiliate Samsung Electro-Mechanics (009150.KS: Quote, Profile, Research) are to set up the 50-50 joint venture, tentatively named Samsung LED, by April, Samsung Electro-Mechanics said in a statement on Tuesday.
...

Samsung Electro-Mechanics, which runs an LED business that focuses more on LEDs used in mobile phones, said the venture would grow the business in the area of lighting and backlight units used in displays.
"As the manufacturing process for LEDs is similar to that of semiconductors, the joint venture would benefit from Samsung Electro-Mechanics' LED technology and Samsung Electronics' chip making capabilities," the statement said.
The cooperation would also help Samsung Electronics' drive in LED TVs, it said.
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#13) On September 14, 2009 at 6:18 AM, portefeuille (99.78) wrote:

Samsung LED

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#14) On September 14, 2009 at 6:32 AM, portefeuille (99.78) wrote:

(no, I don't work for Samsung and they don't pay me for this. I just liked the LED image ...)

 

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#15) On September 14, 2009 at 6:42 AM, portefeuille (99.78) wrote:

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Korea ranks 2nd in OECD stock price rise

The Korean stock market is recovering faster than most of its advanced peers, driven by the faster-than-expected recovery of the Korean economy and local firms` solid performances, data showed yesterday.
Most of the country`s top 10 conglomerates also saw their market value sharply rise this year, according to other data.
Out of the 30 OECD nations, Korea and three other countries saw their shares return to pre-crisis levels, while the other 26 countries still suffered from sharp declines in their stock markets, according to data from the Korea Exchange.
Korea ranked second in terms of stock market rises among 30 OECD member states, with its main KOSPI gaining 7.98 percent as of the end of August from the same period last year, two weeks before the collapse of Lehman Brothers sparked the global financial crisis.
...

"Shares of advanced countries, which are the epicenter of the financial crisis, have not escaped the shadow of the crisis. Korea`s fast recovery is attributed to appropriate policy responses and local IT and auto firms that enhanced their competitiveness in the process of global restructuring," said Hwang Chang-joong, an analyst at Woori Investment & Securities.
He added, however, challenges remain for the Korean economy, saying Korea needed an exit strategy that would achieve full-blown economic recovery.
Data showed yesterday that nine out of the country`s top 10 conglomerates saw their market capitalization rise as of Sept. 4, from the end of last year.
Affiliates of Samsung Group, the top conglomerate, saw their market value skyrocket 62.59 percent to 191.3 trillion won, from last year`s 117 trillion won.
Subsidiaries of LG Group ranked second in terms of market cap, with their market value jumping 78.9 percent to 74.9 trillion won. Trailing LG was Hyundai-Kia Automotive Group, whose market cap surged 153.01 percent to 58.6 trillion won. POSCO`s market value soared 21.52 percent to 41.1 trillion won, while SK Group`s market cap increased 7.66 percent to 37.3 trillion won.
Hyundai Heavy Industries was the only conglomerate whose market cap fell during the period.
By affiliates, LG Innotek, an electronic components unit of LG Group, reported the largest increase in market value, with its market cap jumping 306.67 percent. Ace DigiTech and Samsung Electro-Mechanics, both of which are affiliates of Samsung Group, also posted rises of 273.33 percent and 240.24 percent in market cap, respectively.
(hjjin@heraldm.com)

By Jin Hyun-joo


2009.09.08

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(emphasis mine)

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#16) On September 14, 2009 at 6:57 AM, portefeuille (99.78) wrote:

POSCO

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Hynix Semiconductor

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LG Innotek

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#17) On September 14, 2009 at 7:09 AM, portefeuille (99.78) wrote:

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Allianz Favors Korea Electronic, Auto Parts Makers

By Saeromi Shin

Sept. 9 (Bloomberg) -- South Korean auto and electronic component makers will gain for at least three more years as customers such as Hyundai Motor Co. and Samsung Electronics Co. win global recognition, according to a unit of Allianz SE.
“Consumers have started to buy Korean cars and electronics goods because of their brands and not cheaper prices,” said Jung Young Hoon, a fund manager at Allianz Global Investors Korea Ltd. “It takes quite a long time to build up a brand. But once it’s built, it won’t easily collapse, as Sony showed.”
LG Innotek Co., a maker of light-emitting diodes used in LG Electronics Inc.’s televisions, has gained 287 percent this year. Seoul-based Innotek is among the top five stock selections in Jung’s AllianzGI Best Small & Medium-sized Equity Investment Trust, the fifth-best performer among major funds investing in South Korean stocks this year, he said by phone today.
Credit Suisse Group AG raised South Korea to its most “overweight” stock market in Asia in a Sept. 1 report, saying exporters may benefit from faster-than-expected global growth. The brokerage predicted the benchmark Kospi index, up 43 percent this year, may rise to 1,800 in six months, from 1,606.57 as of 1:40 p.m. in Seoul today.
AllianzGI Best Small & Medium-sized Equity Investment Trust has posted a total return of 74 percent this year, beating all but four among 324 funds with assets of at least 10 billion won ($8.2 million) that are focused on South Korean stocks, according to data compiled by Bloomberg.
TechnoSemiChem
The fund’s top five holdings as of end-August included Seongnam, South Korea-based TechnoSemiChem Co., a manufacturer of chemicals used in semiconductors and liquid-crystal displays, whose shares have climbed 135 percent this year.
Nomura Holdings Inc. increased its share-price estimate on TechnoSemiChem to 27,000 won from 15,000 won and maintained its “buy” recommendation in a Sept. 7 report, saying its major customers such as Samsung Electronics Co., LG Display Co. and Samsung SDI Co. continue to gain market share.
Electronic components, semiconductor-related chemicals and auto parts makers make up a “major” part of his fund, Jung, 34, said. The “earnings up-cycle” for auto and consumer electronics exporters will continue, benefiting their “supply chains” by boosting local sales and helping to win orders globally, he said.
...
Electronic components and semiconductor-related chemicals makers have room to rise further because of the benefits of nearly a decade of reorganization in the industries and because the “fundamentals of their customers” are improving, Jung said, declining to disclose any holdings other than his top five. His least favorite industries are shipbuilders and construction.
Samsung Electronics, the world’s second-largest mobile- phone maker, increased its share of the global market for handsets to 19.2 percent in the second quarter from 15.4 percent a year earlier, researcher Strategy Analytics said July 30. Hyundai Motor, South Korea’s biggest carmaker, boosted its U.S. market share to 4.8 percent in August from 3.3 percent a year earlier, the company said Sept. 1.
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(emphasis mine)

 

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#18) On September 14, 2009 at 7:20 AM, portefeuille (99.78) wrote:

Samsung Electronics

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#19) On September 14, 2009 at 7:26 AM, portefeuille (99.78) wrote:

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07-30-2009 17:12

LG Innotek Declares LED Bid

By Kim Yoo-chul
 Staff Reporter



LG Innotek said Thursday it would invest more in its light-emitting diode (LED) business. To spur further growth in LEDs, the company is mulling the possibility of a fund-raising campaign that includes a stock offering.

"Sales growth of our LED business is forecast to double in the second half. Innotek plans to invest 150 billion won in our LED business by the end of next year. But that amount isn't enough," company CEO Hur Young-ho told reporters at company headquarters in Yeouido, Seoul.

LG Innotek, an electronics parts affiliate of LG Electronics, now runs a local LED plant in Gwangju, South Jeolla Province. 

The comments came a day after LG Innotek reaped a record quarterly operating profit of 79.1 billion won in the second quarter out of the total sales of 952.8 billion won.

By riding on the rising demand for LEDs that are used in consumer electronics products such as TVs and cars, Innotek's LED sales rose 23 percent in the latest quarter from the previous quarter.

On the subject of possible financing plans, chief financial officer Park Hee-chang said the company is considering options to raise money as well as seeking ways to improve its financial soundness. 

Innotek already has plans to issue convertible bonds and bonds with warrants in August to raise 100 billion won in total.

Hur said South Korean companies were able to maintain their price competitiveness in key markets when the dollar-won rate was moving into the mid-1,200 won range. 

"Uncertainties are still high in the global economy. We need stronger U.S. consumer data and on factory production rates in China to guarantee economic recovery," he said.

Regarding additional restructuring, Hur said he would phase out money-losing businesses and invest more capital in promising sectors. 

"Our task now is to have further external growth amounting to at least 3 trillion won in sales. By 2015, Innotek will reach 10 trillion won in annual sales, 10 percent of which will be operating profits," he said.

The company's clients include LG Electronics, LG Display, Nokia, Motorola and Sharp. 

Hur said LG Innotek plans to increase sales to non-LG clients to 50 percent of total sales by 2012, up from 30 percent.



yckim@koreatimes.co.kr

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#20) On September 14, 2009 at 7:29 AM, portefeuille (99.78) wrote:

also have a look at this post (including the comment section!) on LED

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#21) On September 14, 2009 at 7:39 AM, portefeuille (99.78) wrote:

Aixtron (AIXG, AIXA.DE)

 

Frankfurt trading

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Xetra trading

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#22) On September 14, 2009 at 7:45 AM, portefeuille (99.78) wrote:

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#462) On April 23, 2009 at 4:18 AM, portefeuille (99.99) wrote: AIXG - 7.05 (5.41 EUR) - outperform

#649) On August 01, 2009 at 10:43 PM, portefeuille (99.99) wrote: AIXG - end outperform - 16.58 - new rating: market perform

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(from here)

currently at ca. $21.21 (14.57 EUR).

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#23) On September 14, 2009 at 8:16 AM, portefeuille (99.78) wrote:

ARIAD Announces Result of First Interim Analysis of Phase 3 Succeed Trial of Oral Ridaforolimus, Its Investigational mTOR Inhibitor, in Metastatic Sarcomas

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#201) On March 14, 2009 at 12:24 AM, portefeuille (99.99) wrote: ARIA - 1.33 - outperform

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(from here)

currently at ca. $2.87.

 

 

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#24) On September 14, 2009 at 8:40 AM, portefeuille (99.78) wrote:

D.Telekom stock down, Sprint's soars on tie-up talk

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#226) On March 16, 2009 at 4:04 PM, portefeuille (99.99) wrote: S - 3.58 - outperform

#397) On March 28, 2009 at 5:06 AM, portefeuille (99.99) wrote: DT - 12.28 - outperform

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S is currently at ca. $4.54. DT is currently at ca. $13.62 (9.36 EUR).

 

 

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#25) On September 14, 2009 at 1:41 PM, portefeuille (99.78) wrote:

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#303) On March 24, 2009 at 9:17 PM, portefeuille (99.98) wrote: CRXX - 0.62 - outperform

#710) On August 14, 2009 at 6:04 PM, portefeuille (99.98) wrote: CRXX - end outperform - 1.25 - new rating: market perform

#761) On August 31, 2009 at 6:49 PM, portefeuille (99.98) wrote: CLDA - 15.77 - outperform

#782) On September 14, 2009 at 1:34 PM, portefeuille (99.98) wrote: CRXX - 1.84 - outperform

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CRXX is currently at ca. $1.84.

CRXX FORM 8-K CURRENT REPORT

 

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Thursday, August 13, 2009

Clinical Data, CombinatoRx strike deal

Boston Business Journal

A subsidiary of Clinical Data Inc. and CombinatoRx Inc. have signed a licensing agreement valued at up to $257 million in milestone and royalty payments.
The collaboration deal calls for Newton, Mass.-based Clinical Data (Nasdaq: CLDA) to license its multiple myeloma treatment, adenosine A2A agonist ATL313, to CombinatoRx. In return, Cambridge, Mass.-based CombinatoRx (Nasdaq: CRXX) will handle preclinical and clinical development of the treatment for B-cell malignancies. Clinical Data also can exercise a co-development option following Phase 2a study results.
The maximum payout to Clinical Data, which struck the licensing deal through its wholly owned subsidiary PGxHealth LLC in New Haven, Conn., could reach as much as $257 million, depending on how the drug is developed.
Payments could include $252 million if certain regulatory benchmarks are met as well as another $5 million in licensing fees if PGxHealth opts not to co-develop ATL313 alongside CominatoRx.
According to Clinical Data president and CEO Drew Fromkin, adenosine A2A agonists have potential to treat cancer, inflammation and pain disorders.
In June, Clinical Data reported positive results from its anti-depression disorder drug candidate, vilazodone, and intends to file a New Drug Application this year. The company also reported first quarter revenue for its fiscal year, which began April 1, of $3.7 million, up from $2 million for the first quarter of 2008.
Earlier this week, CombinatoRx announced it swung to profitability in the second quarter, due to dramatic cost cuts, a gain from discontinued operations and new drug collaborations. The day after the quarter ended, the company entered into a merger with the Canadian biotech company, Neuromed.

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