Booyah. Not that this prediction took many brain cells to conjure. The real point, of course, was to remind investors about the risks in speculating or day-trading small-cap biotech stocks, particularly stocks like Aeterna Zentaris with horrendous drug-development track records. (Perifosine, anyone?)
7. Leucovorin shortages end, so too does Spectrum Pharma's fairytale ride.
Nope. Leucovorin supplies have not recovered to any appreciable degree, allowing Spectrum to grow Fusilev sales well beyond my expectations. Yet Spectrum shares are down 20% this year with short interest as high as ever and new questions raised about the level of Fusilev discounting.8. Vertex Pharma's (VRTX) cystic fibrosis drug Kalydeco will be approved. More importantly, studies testing Kalydeco combined with other Vertex's cystic fibrosis drugs will show strong benefit in a larger swath of patients. Vertex becomes a cystic fibrosis company. Hepatitis C? What's that? Nailed it. 9. FDA rejects obesity drugs from Arena Pharmaceuticals (ARNA) and Vivus (VVUS) for a second time. I nailed this prediction, too. To my foot, through the floor. Ouch. 10. Celgene will be the best-performing large-cap (market cap greater than $10 billion) biotech stock in 2012. Not so much. Celgene, up just 7% year to date, is actually the worst performing biotech stock with a market cap greater than $10 billion. Regeneron Pharmaceuticals (REGN) tops the list, up 162% this year. (The stock didn't even qualify by market cap in January, nor did Vertex at No. 2, up 61% year to date.) Alexion Pharmaceuticals (ALXN) (+49%), Gilead Sciences (+40%), Biogen Idec (+34%) and Amgen (+32%) are all performing better than Celgene. What happened? More like what didn't happen, as in Revlimid's long-delayed European approval for front-line multiple myeloma. I didn't anticipate Celgene management screwing the pooch as badly as they have this year. --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: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV