About Transcept Pharmaceuticals, Inc.
- Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience.
- Transcept has two products under development:
- The main one is Intermezzo® (zolpidem tartrate sublingual tablet) for the treatment of insomnia which has a pdufa date of July 14, 2011
- For info on Intermezzo, see the Companies website:
- the other is TO-2061 for an adjunctive treatment of Obsessive Compulsive Disorder (OCD) which is is Phase II development
From 10K for year ended 12/31/10; filing on
- $ 67M cash & marketable securities
- Total assets $ 74M
- L-T debt $ 348k
- Solid cash position, should not need to dilute further via shelf offerings
From quote summary 4/6/11
- Market cap $ 120M
- Average analyst target $12
- P/E n/a
- Shares o/s 13.46M, float 5.68M
Stock data and trading plan
Stock chart looks great, just bought today on the break in trend line and will add on a pullback or a break of $ 9.50. Here’s the deal, although I am not as excited of the actual drug getting approved due to big time competition in this market, I also think its going to be a slam dunk approval for two reasons:
- As stated on the Company website, there was already at a CRL issued against Intermezzo in the past, so this is the second go around for the Company and getting this drug approved.
- More importantly, there has already been an approval for the same drug, for the same use, in a spray mist form this year. See link for official launch:
Given the above, IMO Intermezzo should be approved and I will most likely hold the stock through approval unless the stock experiences strong momentum before the pdufa date. My target price is $10-11 pre-pdufa and $12-14 post-pdufa if drug is approved.
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Disclosure: currently long TSPT
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