The strong rebuke by the FDA and its Oncologic Drugs Advisory Committee (ODAC) to ASTX's attempt to gain approval for DACOGEN (decitabine) for elderly AML patients raised significant doubts as to whether the drug will gain approval in this indication in the US or Europe. If not, increased attention will shift to the rest of the company's pipeline. The slide deck from the companies joint analyst and investor R&D day in April 2011 is a good place to start. Find these presentations below and as always get more details on the ASTX research pages. Look forward to additional analysis of these programs here at BiotechDueDiligence and for Chimera Research Group subscribers.
We all know that it has been a rough month or two for the biotech sector, fueled by the overall market decline following the debt ceiling debate as well as the biotech sector weakness following $DNDN Dendreon's weak Provenge prostate cancer vaccine sales and resulting 70% drop in stock value. This has resulted in a large list of biotech companies trading at extremely low valuations. While I can't promise that prices won't continue lower, I think now is the time for careful research and evaluation on stocks you may want to own in the coming months. I feel some of the companies listed below are worth owning at today's prices (8/23/11), others may decline even further. For full disclosure, click here for a current list of which stocks I own among those I cover. As always, complete your own research and consider your circumstances before taking any action based on my thoughts.
Keep reading below the jump for my stock by stock analysis: