"I say, bring on FDA panel. It's a positive for Sarepta."
We'd actually agree with Adam, and we believe an advisory panel might happen sooner than later for Eteplirsen.
The main thing we notice on the stock's chart is the up-trending RSI and MACD, yet the stock seems relatively flat. This could signal another run for Sarepta, which, if true, could touch the $30 price range soon.
Possessing a treatment for DMD that ultimately proves to be successful might constitute a huge break-through medicine. we expect the stock price to continue to head up in anticipation of an advisory panel convening soon here.
Navidea expects an approval decision from the FDA in April of this year regarding its Phase III drug Lymphoseek in regards to marketing Lymphoseek for use in Intraoperative Lymphatic Mapping (ILM).
According to the company, Lymphoseek is: A radiopharmaceutical agent being developed for use in external lymph node imaging and intra-operative lymphatic mapping. Lymphoseek has been evaluated in well controlled Phase III clinical trials in patients with breast cancer and melanoma.
On the NAVB chart we see the RSI beginning to trend bullish again, along with a nice flag pennant pattern forming. More often times than not, this is healthy for a stock that just made a nice leg up into a new trading range. Notice the reluctance to sell after the leg up into the new trading range. We take this as a sign that the stock will continue to trend higher over the next few weeks. I think a short term move to at least $3.50 is on the horizon.
We believe Lymphoseek has a very good chance at gaining FDA approval. The greater question is just how valuable the asset is. The market might not be huge for the drug, but none the less, we do expect a nice upside trend to continue into April.
Disclosure: Author Scott Matusow is long IMUC.
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