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). 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.