BOSTON (TheStreet) -- In a landmark ruling this week, a federal judge invalidated patents on two genes linked to breast and ovarian cancer held by Myriad Genetics (MYGN - Get Report). The company relies on exclusive access to these genes for the basis of its profitable breast cancer testing business, so the judge's decision immediately threw into question Myriad Genetics' long-term value.
Moving on to some quick emails: Ross M. writes, "I was hoping you might comment on Adeona Pharmaceuticals' ( AEN) massive, recent run on no news. It seems to me that this is a 'buyer beware' situation as it has been with previous Adeona runs." Adeona is the reincarnation of the old Pipex Pharmaceuticals, which was run into the ground by Steve Kanzer, a volatile and incompetent manager with one of the worst track records in biotech. I don't believe in absolute truths in biotech, but I do know for sure that smart investors steer well clear of any biotech stock connected to Kanzer.
Via Twitter, @soldieborsa asks, "What is the next ODAC panel you will follow live blogging?" The live blog of the Cell Therapeutics' FDA panel on March 22 was a big hit, so I'm definitely planning similar coverage of upcoming FDA advisory panels. The next FDA Oncologic Drugs Advisory Committee (ODAC) meeting on the calendar is July 20-21, but the FDA hasn't established the meeting agenda yet. On April 22, FDA is convening an advisory panel to review Acura Pharmaceuticals' ( ACUR) abuse-resistant pain drug Acurox. On May 6, an FDA panel will review Questcor Pharmaceuticals' ( QCOR) drug Acthar for infantile spasms. Finally, on July 15, Vivus' ( VVUS) obesity drug Qnexa will take its turn under the FDA advisory panel microscope. I will definitely live blog the Vivus panel in July; if you want me to also cover the Acura or Questcor panels, send me an email and I'll consider it.
My list of seven RNAi stocks Tuesday prompted a few readers, including Gary P., to say I missed one. "You may want to look at the best company for your story, AVI Biopharma ( AVII)," emailed Gary. My mistake. Here's a quick summary: Company: AVI Biopharma
Lead Drug: AVI-4658 for Duchenne Muscular Dystrophy
Partners: U.S. Department of Defense for some bioterrorism vaccine programs.
Status: Interim data from a phase I/II study of AVI-4658, conducted in Europe, were announced last December.
Upcoming Milestones: AVI expects to seek FDA permission to begin U.S studies of AVI-4658 in the second quarter. The company will also release additional efficacy data from the ongoing AVI-4658 study in the second quarter.