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Biotech Stock Mailbag: Cyclacel Fallout, the Skinny on Vivus, Celldex's Crash

Celldex is still up 38% for the year -- that's damn good. More important for Celldex and its shareholders will be results from the phase II study of CDX-011 in breast cancer expected this spring at the American Society of Clinical Oncology's annual meeting. I don't know if the CDX-011 study will be a success, but the company's decision to raise money last month is not a negative tell, in my opinion.

Ken B. doesn't like my FDA Drug Approval Contest: "Adam F., to quote your asinine boss, 'YOU KNOW NOTHING' and your silly contest is a meaningless and worthless exercise. Thanks for being such a reliable reverse indicator!"

Haters gonna hate.

Abe L. takes umbrage over my concerns about Exelixis' (EXEL) prostate cancer drug cabozantinib:

"I will definitely be e-mailing a copy of your article today and asking the SEC to check and see what your options positions are today. Nothing but a hacket [sp] job on Exelixis and you know it. The SEC is worthless but guys like you are pathetic."

I wonder if there's a person at the SEC who fields these emails and says to himself (or herself), "Oh, Adam must have written another Mailbag today." If so, I apologize for my fans. They can get a bit rambunctious.

Ted B. asks, "What is your vote on Surfaxin from Discovery Labs(DSCO) and why?"

I say FDA approves Surfaxin on Tuesday. Why? The little-known FDA Mercy Rule. It's inconceivable that a company can screw up so badly that its drug is rejected five times in a row. Therefore, Surfaxin will be approved.

If you want to read a contrarian take on Discovery and Surfaxin, Joseph Lee of argues that FDA will reject the drug.

--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 TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. 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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