SuperGen, Inc. (SUPG)

zzlangerhans (99.36) Submitted: 2/11/08 12:29 PM : Start Price: $2.94 SUPG Score: -22.31

It seems like a good time to drop a green thumb on Supergen because the share price has been beaten down consistently for the past year, along with 90% of the small cap biotechs. But Supergen actually gets revenue from a real product, Dacogen for myelodysplastic syndrome. Revenues in the last quarter were 6 million. Getting Dacogen approved and on the market seems to have done nothing but hurt the stock. Some pressure exists from Vidaza, a competing drug from Pharmion which was demonstrated to confer a survival advantage to MDS patients last year. But a similar trial for Dacogen, ADOPT, is scheduled to be completed early this year. Positive data could send Supergen flying back up. Either way, an enterprise value of 88M seems low given annual Dacogen revenues of 25 million and an admittedly tentative pipeline of tyrosine kinase inhibitors.

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