Posted:
#1
Why this issue has taken a dump is a mystery. I'm buying OREX. It's trading at $4.34 and has a 52 week high of $10.83.
I like this for 2 reasons -
1- This company did a secondary issue and the directors, president, and the VC guys bought about 90% of it up to the tune of $60mm. If they're that invested then the expectation is very high.
2- Their drug Contrave. This is an anti-obesity drug that was accepted by the FDA today, June 17th. It's been assigned a Prescription Drug User Fee Act (PDUFA) action date of January 31, 2011. From what I gather, that's the final date of approval and/or the last hurdle. The PDFU allows the FDA to collect fees from Pharma companies to "enhance the agencies research." Now if you believe that,I have some swampland....
It does stand to reason, in my mind, that after the first 3 clinical trials and accepting of the compound, the approval should be eminent. Given the Americans challenges with obesity and our overarching desire to lose weight without too much effort, along with an impending approval date and a whole host of Senior staff and their VC investors owning this, makes me believe OREX will be a high flier.
I like this for 2 reasons -
1- This company did a secondary issue and the directors, president, and the VC guys bought about 90% of it up to the tune of $60mm. If they're that invested then the expectation is very high.
2- Their drug Contrave. This is an anti-obesity drug that was accepted by the FDA today, June 17th. It's been assigned a Prescription Drug User Fee Act (PDUFA) action date of January 31, 2011. From what I gather, that's the final date of approval and/or the last hurdle. The PDFU allows the FDA to collect fees from Pharma companies to "enhance the agencies research." Now if you believe that,I have some swampland....
It does stand to reason, in my mind, that after the first 3 clinical trials and accepting of the compound, the approval should be eminent. Given the Americans challenges with obesity and our overarching desire to lose weight without too much effort, along with an impending approval date and a whole host of Senior staff and their VC investors owning this, makes me believe OREX will be a high flier.
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