Post by JHam on Jul 30, 2018 4:16:22 GMT
One to keep an eye on Monday. The FDA announced on Friday night that they approved DRRX's drug, Perseris, for schizophrenia in adults. The stock is already up 24% AH from Friday's closing, so I would proceed with extreme caution to anyone who wants to take a gamble. That said, I think it is worth a look.
Current financials:
o/s - 161M
Market cap - $275M
Cash - $44M (as of June 27th, 2018)
Debt - $20M
Important things to note:
Perseris is being developed by Indivior as part of a JV set up between the two companies a while back. Indivior paid $12M up front and will pay $5M upon FDA approval, plus single digit quarterly royalties along the way. They estimate that peak sales of Perseris to reach $200-300M. With the market cap already around $275M that's something to consider. Although, that being said Perseris is not the lead candidate in their pipeline. P2a data for PSC could be announced any day now, which if positive would be a big milestone for the company.
For this one though I am only interested in the FDA approval on Friday, so financials don't concern me so much. If it is possible to get in below $2 (unlikely), I may try and do a quick flip. I wouldn't want to get stuck holding this one since they have another PDUFA date set for Aug. 7th for a different drug that was NOT recommended for approval by the committee (14-3). Could potentially be a good short play as well considering the potential for denial at the next PDUFA date.
FDA announcement: indiviormedia.com/
Current financials:
o/s - 161M
Market cap - $275M
Cash - $44M (as of June 27th, 2018)
Debt - $20M
Important things to note:
Perseris is being developed by Indivior as part of a JV set up between the two companies a while back. Indivior paid $12M up front and will pay $5M upon FDA approval, plus single digit quarterly royalties along the way. They estimate that peak sales of Perseris to reach $200-300M. With the market cap already around $275M that's something to consider. Although, that being said Perseris is not the lead candidate in their pipeline. P2a data for PSC could be announced any day now, which if positive would be a big milestone for the company.
For this one though I am only interested in the FDA approval on Friday, so financials don't concern me so much. If it is possible to get in below $2 (unlikely), I may try and do a quick flip. I wouldn't want to get stuck holding this one since they have another PDUFA date set for Aug. 7th for a different drug that was NOT recommended for approval by the committee (14-3). Could potentially be a good short play as well considering the potential for denial at the next PDUFA date.
FDA announcement: indiviormedia.com/
