+ Watch ALXA
on My Watchlist
An emerging pharmaceutical company focused on the development and commercialization of novel, proprietary products for the treatment of acute and intermittent conditions.
Alexza resubmitted the Staccato Loxapine NDA today and the market yawned, passed gas, and rolled over. Well, that's fine. With everything going on most people don't want to have their money in a small speculative biotech. Important numbers to keep in mind here are 0.9 and 1.86. The former is the low of pessimism after the initial FDA rejection last October. The latter was the high point in July before the bull bubble popped. The company expects a six month class II review which would indicate a PDUFA in early February. I think the odds of second pass approval of Staccato Loxapine are about 50%, and the stock will probably sell off soon after approval. So the question is how long do you think the bear will stay out of his cage? If you're expecting more than six months, stay in cash or buy bear funds. If not, Alexza is one biotech that has a good shot at a rebound as long as the bull market comes back before the PDUFA.
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