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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Matt Schilling (from Seeking Alpha)30, New York City Academic: Towson University, B.S. 2006 Major: Political Science Minor: English, Mathematics Summary: The markets are an ever evolving conundrum filled with opportunities for both the bullish and bearish investor. 2 Biotech Stocks Experiencing Significant Sell-Offs Investors Should AvoidNovember 8, 2012 includes: BCRX, SVNT On Thursday November 8th, two companies within the biotech sector announced significant news that should send shares lower over the next few trading sessions. Both of these companies should be considered potential candidates for the establishment of a short position over the next 30-60 days.Savient Pharmaceuticals (SVNT) which is based in East Brunswick, New Jersey operates as a "specialty Biopharmaceutical Company in the United States. It engages in developing and commercializing KRYSTEXXA for the treatment of chronic gout in adult patients refractory to conventional therapy. The company also sells and distributes branded and generic versions of oxandrolone, a drug used to promote weight gain following involuntary weight loss." On Thursday, the company announced quarterly EPS results of -$0.56/share on revenue of $4.50 million, which is pretty dismal since analysts were expecting SVNT to post a loss of -$0.48/share on revenue of $5.80 million.When it comes to Savient, one of the more important negative catalysts comes in the form of company's existing debt. During the third quarter, "interest expenses on the company's debt increased $3.3 million, or 93%, to $6.8 million for the three-month period ended September 30, 2012, from $3.5 million for the three-month period ended September 30, 2011. Interest expense for the three-month period ended September 30, 2012 reflects $2.7 million of cash interest expense and $4.1 million of non-cash interest expense. Interest expense for the three-month period ended September 30, 2011, reflects $2.9 million of cash interest expense and $0.6 million of non-cash interest expense."