Seeking Alpha posted what they think are the hot stock to watch in 09. We always say don’t invest in biotech unless you’re calling the shots or you’ve really done your DD (speak with PIs?). Here’s who they think is undervalued and has a shot for an upswing:

AMAG Pharma (AMAG) - announced last week that the FDA issued another complete response for its iron deficiency anemia drug ferumoxytol.

AspenBio Pharma (APPY) - recently completed enrollment in its pivotal Phase 3 clinical trial for AppyScore, which represents the first blood-based diagnostic screening test for appendicitis. On December 10, APPY guided for a time frame of 4-6 weeks for announcing the trial results with plans for an early 2009 submission for FDA approval in the form of a 510(k), which means results should be out within the next 2-4 weeks.

BioDelivery Sciences (BDSI) submitted its Risk Evaluation and Mitigation Strategy (REMS) for pain drug candidate Onsolis (BEMA fentanyl) based on the feedback it received from the FDA’s complete response ruling on the NDA in August.

Caraco Pharma (CPD) - generic player, just made offer for Taro.

Cypress Bioscience (CYPB) and Forest Labs (FRX) announced positive Phase 3 results earlier this month for milnacipran in the treatment of fibromyalgia, which was statistically significant compared to placebo.

Happy investing(?)

Image from amagpharma

Related Posts