We’re doing quick reviews of all the companies presenting at BIO CEO and we’re starting with the A’s. We didn’t list any of the tools or diagnostics companies; just the drug developers. We also made our own little rating system:

*Bull = bull

*Bear = dog (can still be saved)

*Stay away at all costs/beyond saving = dog with fleas (aka dwf)

Here we go…

4SC AG

The company’s dihydroorotate dehydrogenase inhibitor has been languishing for years without any compelling results. We like 4SC-205 and 4SC-201 from the recent Nycomed acquisition. Trading at about 2.70 EUR with about 25M EUR on hand ending 09-30-08.

Rating: dog

Aastrom Biosciences

Cell therapy. Stock trading at 60-something cents. Next.

Rating: dwf

Ablynx

Nanobodies are interesting. Company has great collaborators (Merck Serono, NVS, Wyeth). Not too fond of the lead cardiovascular therapy area. Trading at about $5 USD and holding steady for last 2 weeks.

Rating: bull (barely)

ACADIA Pharmaceuticals

This one is bad. Pimavanserin lacks any investor enthusiasm and doesn’t really differentiate from other 5-HT 2 antagonists. Most importantly, the drug did not meet its primary endpoint back in June. The stock is just at $1.00 (surprisingly). Beginning of the end.

Rating: dwf

Achillion Pharmaceuticals

This is another me-too antiviral play that has floundered for too long. Crowded market. The stock is just over a buck. No further comment.

Rating: dwf

Acorda Therapeutics

You guys know how we feel about this one. Solid data, great therapeutic area and recent NDA submission. The stock has also been creeping up almost 50% over the last 30 days on no news (from $16-17 to a high of $25).

Rating: bull

Addex Pharmaceuticals

Despite this company having partners like J&J and Merck and having a 170M USD+ market cap, these guys are overvalued. mGlu is nice n all, but until we see data in 2H09, it’s bad news.

Rating: dog

Advanced Life Sciences

Stock in the toilet. Cethromycin not exciting. End of story.

Rating: dwf

Affymax

This might of made a good buy 4-5 weeks ago, but we’re thinking neutral for now.

Rating: dog

Alexza Pharmaceuticals

With their scrapping of the Endo lidocaine deal and the layoffs (need to conserve cash), we would say also bad news. Plus, Staccato Loxapine is a sham. Overvalued.

Rating: dog

Allon Therapeutics

This is one of those companies that won’t survive the year unless they find a partner. The company has a low burn rate and cash on had for 2 years, but unless they get a partner and/or generate compelling data they will go the way of the dodo.

Rating: dwf

Allos Therapeutics

We’ve always liked Pralatrexate and were mystified when the stock didn’t move after the positive ASH data. We still like this one and see a place for the product in the market.

Rating: bull

Alnylam Pharmaceuticals

We also think this one is overvalued, but unfortunately can not comment any further at this time.

Rating: no comment

Amarin Corporation

With Lovaza on the market and a multitude of omega-3 patents/products/research out there, we gotta say this one is scary. Trading at just under 75 cents.

Rating: dwf

Amsterdam Molecular Therapeutics

I can’t believe anything gene therapy is still in existence.

Rating: dwf

Anadys Pharmaceuticals

We’re more excited about the TLR oncology program than the HCVs.

Rating: neutral/dog

Antisoma

With Fludarabine, DMXAA, Xanafide and an awesome backup pipeline, this company is undervalued with a share price of $40 USD and a 283M USD market cap, we gotta rule bull.

Rating: bull

Arana Therapeutics

Some of the oncology programs are promising. Everything is too early in development though, and the share price reflects it.

Rating: dog

Arena Pharmaceuticals

Lorcaserin? Based on what we’ve seen over the last 10+ years, we stay away from anything obesity.

Rating: no comment/dog

Array BioPharma

We like the targets. Decent amount of cash on hand and not that much debt ($30+M) relative to comparators. The stock has tanked with the economy, but has remained strong/steady over the last month or two.

Rating: bull

Athersys

stem cells: we turn our cheeks.

Rating: no comment

Avanir Pharmaceuticals

All I gotta say is that Abreva works!!! OK OK, this company has good products, but not enticing enough for investors – nothing market changing or trailblazing. We gotta stay firm in our ratings…

Rating: dog

..and that’s it for the A’s. We’ll back in a few days with the Bs thru Ds

Click here for our BIO CEO Part 1 post.

Image from ceo.bio.org

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