+ Watch ITMN
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The Company is a biotech company focused on developing and commercializing innovative therapies in pulmonology and hepatology.
The FDA will likely require another Phase III trial on pirfenidoone. ITMN cannot pay for this now, and will have to dilute shares or partner the drug. Also ITMN 191 although effective will enter the market place in heavy competition with other effective treatments. I don't see ITMN as outperforming the market and see the shareprice continue to fall on likely announcement of FDA further testing for pirfenidone.
Intermune just doubled on Pirfenidone approval in the EU. Guess I have been pretty wrong in calling a thumbs down on this stock. I still don't see FDA approval without a further trial and better proof of efficacy. Good thing the only thing I lost on this call was some CAPS points, I stayed away from trading on this idea with real money.
Over a year since I thumbed this one down, and I have the absolute worst CAPS score on this stock. However, a big sell-off on this date, down 14% today. Not that this is company specific, but given the trouble that DNDN has had, I can presume that there are worries with ITMN and its ability to ramp up sales of Pirfenidone in Europe. The NASDAQ biotech index is flat for the year and about to go negative. ITMN releases quarterly report later tonight. I will stay with the thumbs down at this point, even though this is a big time losing CAPS position, at least I have been right since the beginning of the year.
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