A biopharmaceutical company engaged in developing and distributing pharmaceutical products that target unmet medical needs in both niche and broader markets.
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Maybe Savient has another bounce left in them, maybe they're dead meat. Anyone who knows my track record on this stock knows to ignore my opinion. Institutional shareholder Tang Capital attempted to force the company to liquidate on the grounds of insolvency but management was able to circumvent them by restructuring their debt. It's good to see Savient is capable of prolonging their existence even if they can't sell a drug.
I went in with real money Friday. The good news on Phase III Clinical Trials of their gout drug, Krystexxa, "should" be a strong catalyst going forward. I think it gets FDA Approval so long as the data is factual (meets efficacy endpoints without serious side effects).
Might want to hold off on your crack binges until after the markets close. Krystexxa was actually approved in September 2010, and no one's buying it. The phase III analysis they're PR'ing about is a laughable reanalysis of their old trial data which is completely superfluous. There's no FDA action pending.
i am coat tailing you on this one.