Meantime, the guessing game over the FDA's Afrezza decision continues. On Thursday, JMP Securities reiterated its buy rating and $11 price target on the grounds that there's a 40% chance for a full Afrezza approval on Dec. 29.
"Furthermore, the JPM Securities note continues, "even should a second CRL [Complete Response Letter] be issued, we believe the most likely scenario would not involve a requirement for new, long-term clinical trials (30% probability), based on which we believe the stock would trade in the $8-10 range. We anticipate that the focus for a CRL would be on REMS [risk management plan] and/or the submission of the commercial delivery device and not pulmonary safety or efficacy concerns…"
Diabetic Investor's David Kliff told his newsletter subscribers that Afrezza has less than a 50% chance of getting FDA approval and he recommended banking trading profits ahead of the decision.
My 15 Biotech Stock Predictions for 2011 column provoked some typical yet comedic responses from fans and foes alike, some of who had their own 2011 predictions.Steveh800 predicts, "A.F. continues to be paid by Wall Street Hedge Funds to bash the stocks in their favor." Matt writes, "Adam doesn't get a Christmas card from Anna Gluskin (again), but Jim Bianco sends him a lump of coal." Adamsfriend says, "Adam will be seen making out with Jerry Springer in 2011." Ruggerschr is angry. "Adam, you are so obviously a schill working for Cramer and his Hedge fund cronies. At least when you go to prison for your dastardly deeds, you will have lots of practice being other people's [Bleep]!" Nealhugh predicts, "Delcath Systems will rise and FDA approval by Summer 2011." Rds_1 says, "Adam will be a permanent fixture on The Walking Dead and give up his Street job!" Mn_vestor has a new biotech business idea: "Biotech startup 'Greymatter' attempts to inject a brain into the skull of Adam Feuerstein. Alas, the attempt fails and he is forced to continue his career as a writer for the Street." Joe predicts, "Adam will be in an orange jumpsuit." While pdgcwood adds, "And a name change to Shirley." As I said above, I love you all. That's a wrap. The Biotech Stock Mailbag is now on a short hiatus, returning Jan. 7, 2011. Keep those emails and tweets coming. --Written by Adam Feuerstein in Boston.
>To contact the writer of this article, click here: Adam Feuerstein. >To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein. >To submit a news tip, send an email to: email@example.com.
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