Optimer Pharmaceutical is another upcoming biotech with a chance for some momentum due to some upcoming game changing events. See my research below. Always do your own due diligence before buying any security and please see my diclaimer at the end of this report.
Notes on Fidaxomicin
- for treatment of Clostridium Difficile Infection or CDI
- Optimer recently received a priority review PDUFA date of May 30, 2011 for its NDA of Fidaxomicin and an advisory committee on April 5th:
Currently over 700k cases in U.S. per year ~ blockbuster potential
- Optimer plans to market the drug in the U.S. and use 3rd party outside the U.S.
- According to research by Decision Resources, Fidaximicin will be used by the majority of infectious disease specialists.
Additional product pipeline is as follows:
Another exciting product is Pruvel for the treatment of infectious diarrhea, however the company has voluntarily terminated its research study on this due to higher than expected incidences of mild skin rashes during use. There is no current timeline given by the Company as to how long it will take to research this skin rash issue.
On 2/16, Optimer completed a public offering of 6.9M shares at $11.25 per share, resulting in gross proceeds to Optimer of $77.6M ~ now that this offering is done, we can expect some momentum going into the panel and PDUFA event
Annual filing expecting on or around March 10, 2011
Last quarter filing
- Cash and cash equivalents $58M
- No long-term debt
- 9 mo revenue of only $1.3M
The stock price is currently at 11.90. The market just dropped considerably today possibly starting a small correction. My price range to buy would be around 11.25-11.50, adding more if it goes below 11. The year end earnings should not affect the stock too much as there are no revenues. My target is from $13-14, with further upside after approval of $15-16.
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Disclosure: currently no position in OPTR
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