Player Avatar zzlangerhans (99.85) Submitted: 2/27/2013 1:20:28 AM : Outperform Start Price: $8.41 ITMN Score: +55.14

There's going to be a run-up in Intermune stock before topline data from the ASCEND trial in H1 2014. The only question is when the run will start, and from what share price. Two major overhangs to the run have recently been removed. The company has guided to predictably unimpressive 2013 European Esbriet revenues of 40-70M. That eliminates a lot of the nervousness about ongoing cost-effectiveness and pricing concerns in the major EU countries. Last month, the company raised 263M in a combination dilutive/debt financing that will provide them with sufficient funds to take them through topline data. That, of course, does not mean they won't raise again before completion of the study but they will almost certainly be looking for a higher share price. There's likely at least a year to go before data so this green thumb is a flag for a possible future buy at a lower price ahead of the run.

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