This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Biotech Stock Mailbag: More Amarin, MannKind, Orexigen

Stocks in this article: AMRN MNKD OREX OSIR ISIS

I don't believe NCE/NME status has played a significant role in Qsymia's launch, but notice that Vivus launched the drug on its own. No Big Pharma partner. Amarin doesn't have a partner either -- yet.

Synds: "Has MannKind (MNKD) found its bottom?"

I don't call stock bottoms. The most positive thing I can say about MannKind is the recent financings give the company enough cash to fund operations through the end of the Afrezza phase III trials expected mid-2013, perhaps longer.

Taking a step back from the fiscal cliff doesn't seem like sufficient reason to own MannKind but you may disagree. Fundamentally, MannKind is still a mess. The balance sheet is a travesty, with close to 380 million fully diluted shares outstanding, $128 million in debt and a $215 million in open convertible notes. The company continues to survive only due to the irrational largesse of founder Al Mann. No partner has stepped forward to legitimize Afrezza, probably because Mann is the only person who believes diabetics need or want an inhaled insulin device.

I understand there may be trading opportunities in MannKind, especially as we get closer to Afrezza's data release in mid-2013, but don't overlook the enormous regulatory, commercial and financial challenges still in the company's path.

NK writes: "I am interested in Orexigen Therapeutics (OREX)."

I'm interested in Orexigen, too, because Contrave might just be the Goldilocks of weight-loss pills.

Goldilocks picks up the big red bowl of porridge (Qsymia) that belongs to Papa Bear (Vivus) but it's much too hot to eat. Goldilocks then picks up the blue bowl of porridge (Belviq) that belongs to Mama Bear ( Arena Pharmaceuticals (ARNA)), but it's too cold. Finally, Goldilocks finds a yellow bowl of porridge (Contrave) that belongs to Baby Bear (Orexigen.) She tastes the porridge, and it's just right. Not too hot, not too cold. It's delicious, and she eats the entire bowl.

Chris asks: "Do you think Isis Pharmaceuticals (ISIS) can get CHMP approval for Kynamro?"

Yes, I can see European regulators approving Kynamro (mipomersen) but, like in the U.S., only for the narrow homozygous familial hypercholesterolemia (HoFH) patient population. Efforts to expand Kynamro's label to treat a broader (and less fatal) forms of high cholesterol is going to be very challenging given the drug's safety issues.

Alex: "What do you think about Osiris Therapeutics (OSIR)? Earnings next week!"

Prochymal was approved for sale by Canadian regulators in May. Will Osiris ever get around to launching the drug or generating revenue? I won't hold my breath. More likely, Osiris CEO Randy Mills will use next week's conference call to blow more smoke. Remember, Mills works for Peter Friedli and his Swiss investor friends.

Several readers on Tuesday's live chat asked about Dyax (DYAX) and Exact Sciences (EXAS). Answers next week, I promise!

-- Reported by Adam Feuerstein in Boston.

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.
2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs