According to ClinicalTrials.gov, the study is expected to have overall survival data available in September 2013.
@LTbioinvestor tweets, "How about $PTN? Can it get a place in your high-risk high return biotechs?"
No. Palatin Technologies (PTN) is cheap but too risky. Intranasal bremelanotide for erectile dysfunction blew up because the drug caused high blood pressure. Now, Palatin is testing an injectable version of bremelanotide for men with ED and women with female sexual dysfunction. The company says the new version of the drug is safer, but an injectable ED drug? That seems like a commercial flop in the making.
Traders and technicians may see something promising in the Palatin chart, but I see a company that was forced into a 1-for-10 reverse stock split in September 2010. The stock is down another 21% since the reverse split. That's not a comforting sign.Richard H. emails, "Why didn't you include Sangamo Biosciences (SGMO) in your list? To me their pipeline is farther advanced then those listed and it is also already seeing some revenue from Dow and Sigma-Aldrich." Sangamo was considered but didn't make the "cheap" cut owing to a market value north of $300 million.
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