This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Tiny Biotechs Dancing in the Bull Pen

Hemispherx is expecting an FDA decision Tuesday on the company's drug for chronic fatigue syndrome, Ampligen, based on a single study completed in 2004. The FDA refused to review the Ampligen application in 2007, but Hemispherx resubmitted the drug in 2008. The company has outstanding manufacturing problems related to Ampligen that have yet to be resolved, according to the company's SEC filings.

At various times over the years, Hemispherx has claimed Ampligen as a treatment for HIV, the ebola virus, avian flu, swine flu and smallpox.

Hemispherx sold stock to raise cash on May 11 and again on May 19, a strange move for a company confident about a positive decision on Ampligen next week.

OncoGenex shares took off May 14 after a research abstract for the firm's prostate cancer drug OGX-011 was released online in advance of the ASCO meeting. The interim data from a phase II study showed OGX-011 plus chemotherapy boosted survival over chemotherapy alone in patients with advanced prostate cancer.

Rodman & Renshaw, an investment bank that caters to raising money for small-cap biotech companies, initiated coverage on OncoGenex with a buy rating, making the claim that OGX-011 could be a more effective prostate cancer drug than Dendreon's (DNDN) Provenge.

OncoGenex finished the first quarter with $9.4 million in cash, which makes it highly likely that a follow-on financing deal will get done soon, perhaps before or right after the ASCO meeting, where additional OGX-011 data will be presented.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs