Feuerstein's Biotech-Stock Mailbag

It's Saturday, so time for another Biotech Mailbag. As always, send your rants and raves here.

Several readers have inquired about Novacea(NOVC Quote) and its drug Asentar. Judging by the anguished tone of their emails, I get the sense that many bought the stock after it nearly doubled overnight to $15 on May 30. The big move was triggered by a very nice Asentar partnership signed between Novacea and Schering-Plough(SGP Quote).

Unfortunately, the stock hasn't been able to sustain the momentum. One month later, it has dropped more than 30%, all the way back down to around $10. ...