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Biotech Stock Mailbag: Orexigen Therapeutics

Avanir's stock price fell fairly sharply from the peak hit right after Neudexta's approval last October but the stock has started to come back lately as the launch date nears.

Pat. W. asks, "Adam, I have been following Discovery Labs (DSCO - Get Report) for many years and I thinking it's time to invest in Surfaxin getting a favorable review. My concern is buying before a possible reverse stock split and/or continued dilution of the stock, but I like your optimistic view of Surfaxin. What price per share range would you give Discovery if Surfaxin gets approval? Thanks."

I was feeling more snarky than usual Thursday morning, so in response to Discovery's announcement of yet another conference call scheduled to explain the 4,672nd delay in the Surfaxin resubmission process, I tweeted this:

"Memo to $DSCO CEO Tom Amick: STFU! No conf calls. No PRs. Not until you get Surfaxin approved. No one cares until then -- 2015? 2020?"

And I mean it. Amick really need to shut his mouth and just get the job done. Enough explanations, enough excuses. Talk to investors after Surfaxin is approved. Until then, his words are useless.

As for investing in Discovery, haven't you been hurt enough already? Revisit the stock when Surfaxin is approved, if ever.

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here: Adam Feuerstein.

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