Oxigene Inc (NASDAQ:OXGN)

CAPS Rating: 3 out of 5

A biotechnology company developing novel small-molecule therapeutics to treat cancer and eye diseases.


Player Avatar zzlangerhans (99.85) Submitted: 12/13/2011 7:52:30 PM : Underperform Start Price: $15.36 OXGN Score: +19.91

For Christmas this year, you may want to consider giving that special someone a short position in Oxigene. It's the gift that keeps on giving. Zybrestat has failed and failed and failed yet somehow the stock still pops every time the company finds something to do with it. This time it's a partnership for compassionate use of Zybrestat in Europe. I'm not sure how compassionate it is to treat a desperate patient with a drug that has failed to show any significant benefit over placebo and will never be approved by the FDA or EMEA, but I guess that's for the patients and doctors to decide. Meanwhile, Oxigene continues to float their pie-in-the-sky phase III trial of Zybrestat, but in order to fund the trial they'll have to dilute enough to become the next Cell Therapeutics.

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