10 Most-Shorted Biotech Stocks of 2013

BOSTON ( TheStreet) -- Here's a list of 10 bio-pharma stocks with the highest short interest as we near the mid-point of 2013, according to S&P Capital IQ. Many of the stocks on this list won't surprise anyone because they've been bull-bear battlegrounds for years. You might be surprised by the stock with the highest short interest today, so read on.

10. InterMune ( ITMN)

Short interest: 22% of float. ITMN Chart ITMN data by YCharts

Shorts say: The European commercial launch of Esbriet is still a slow work in progress. Competition could negatively impact InterMune next year when Boehringer Ingelheim is expected to announce results from phase III studies of nintedanib. Then there's the uncertainty surrounding InterMune's own U.S.-based phase III study of Esbriet -- results are also expected next year.

9. Hyperion Therapeutics ( HPTX)

Short interest: 26% of float ^NBI Chart ^NBI data by YCharts

Shorts say: Can Hyperion really get away with charging $295,000 per year for Ravicti as a therapy for urea cycle disorders, even if it's more convenient than the less expensive alternative, Buphenyl?

8. Arena Pharmaceuticals ( ARNA)

Short interest: 26.5% of float ^NBI Chart ^NBI data by YCharts

Shorts say: Belviq is a weak weight-loss drug. The commercial launch will be disappointing.

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