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6 pts

Opinion on  Pharmacyclics Inc. (PCYC)     Sector: Healthcare  >  Industry: Biotechnology & Drugs
FDA files NDA for Pharmacyclics drug Xcytrin

Apr 23, 2007 08:51 PM GMT
Lotus170107
Return Risk
+12.64% HIGH
Sr. Analyst

Today, the FDA filed the NDA for Xcytrin.  In most cases this would be great news. However, they chose to review the drug over the next 8 months and have until Dec 31st t to make their final decision to approve or not.  Given that Xcytrin was designated a fast track and Orphan drug it was surprising they chose the longer time frame for review. 

Long term the news is still good for Pharmacyclics but this extended delay will likely cause the stock price to drop back into the high $2 to low $3 range.

PCYC:  This call was made on 04/23/07 @ $3.28
Rating:   Negative   $3.28 (04/23/07)
Closed:   04/26/2007 @ $3.23 (+1.52% in 3 days)
Target:   $3.08 (-6.10%) in Six months


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Aircarp previously rated PCYC
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