This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Biotech Notebook: Genitope, Amicus

Genitope's (GTOP) MyVax study failed . I sympathize with the company's CEO, Dan Denny. He must be profoundly disappointed in Thursday night's results, especially because this phase III trial of non-Hodgkin's lymphoma patients took years to conduct.

But pity for Denny only goes so far, and it pretty much stops when he starts talking about how a subgroup analysis from this failed(!) study is really a home run and will compel the FDA to approve MyVax.

Denny might be so overcome with grief that he actually believes what he's saying. Any investor who buys into what Denny is selling is simply crazy.

Amicus Therapeutics (FOLD) presented some phase II data on its Fabry disease drug Amigal on Wednesday. Amigal appears to be an active drug that can reduce the toxic buildup of a protein called GL-3 in the kidneys of patients. It's the inability to remove GL-3 from cells in the body (because of a genetic malfunction) that causes the severe physical problems in Fabry patients.

However, investors' reaction to what seemed like positive news was anything but. Amicus shares were shellacked Thursday, falling $5.59, or 37%, to $9.54.

Why the incongruence between the Amigal data and the stock price? The answer is in the details of the Amigal data. Amicus got its best results by measuring reductions in GL-3 levels in the urine of Fabry patients. The efficacy was less robust, however, when GL-3 levels were measured via biopsies of kidney cells.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GTOP $0.00 20.00%
FOLD $6.72 -1.30%
INGN $49.21 2.10%
AAPL $93.24 -0.41%
FB $118.13 0.06%


Chart of I:DJI
DOW 17,724.54 +73.28 0.42%
S&P 500 2,058.78 +7.66 0.37%
NASDAQ 4,738.4560 +12.8170 0.27%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs