Biotech Mailbag: Recap on GenVec

John G. asks, "Does Oramed Pharmaceuticals (ORMP.OB - commentary - Cramer's Take) have any real potential? What's the story on this one?"

Oramed is a bulletin board stock. The company is developing an oral insulin capsule that could conceivably replace typical insulin injections. The convenience and commercial potential of an insulin pill is fairly self-evident, given that millions of diabetics must inject themselves one or more times a day with insulin.

It's been easier to conceptualize alternative insulin delivery methods than to actually make them work. Inhaled insulin from Nektar Therapeutics (NKTR - commentary - Cramer's Take) and Pfizer (PFE - commentary - Cramer's Take) was a commercial flop, and that hasn't stopped Mannkind Technologies (MNKD - commentary - Cramer's Take) from giving it a try. Some companies are trying to develop oral insulin sprays, and others are going for the straight insulin pill idea.

The clinical and regulatory hurdle for any diabetes drug these days is enormous. Just look at the charts of companies such as Amylin Pharmaceuticals (AMLN - commentary - Cramer's Take) or Novo Nordisk (NVO - commentary - Cramer's Take), and you'll start to understand. For me, an insulin pill is a neat idea but not one I'd be willing to invest in for a very long time.

Back in April, I was stand-offish on Generex (GNBT - commentary - Cramer's Take), another oral insulin company. At this point, I'd put Oramed in the same category.

An email from Kevin: "Can you say a few words in your next mailbag about CV Therapeutics (CVTX - commentary - Cramer's Take)? I bought in after the FDA news opening up Ranexa for first-line treatment and label expansion. Would baseball cards have been a better investment?"

I guess it depends on which cards you have in your deck. I'd take a Willie Mays rookie card over 100 shares of CV Therapeutics in this market, any day.

Since this isn't the Baseball Mailbag, I'll get back to talking about CV Therapeutics. Interesting story: As Kevin notes, the company recently received FDA approval for an expanded label that now allows the company to market its heart drug Ranexa to essentially all patients with chronic angina. The new label also contains more favorable language about Ranexa's safety.

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At the time of publication, Feuerstein's Biotech Select model portfolio was long DNA, CELG and GILD.

Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.