This one is going bak to $15.00! currently trading at $.6.88
cheers,
SJ
SHORT SQUEEZE
NEW $2 Million Dollar grant for Anthrax Antibody (WHICH ALREADY WORKS!)
Abreva sales
AND Neurodex - a new drug formulation which FDA will rule on by Oct. 31st for the
treatment of neuropathic pain. HUGE MARKET!
BUY NOW!
currently at $6.88 could fly as high as $60 by the covering of short shares.
I'm buying!
cheers,
SJ
GET IN NOW!
DO YOUR DD LATER!
THIS ONE IS HEADING OUT OF THE STATION.
cheers,
SJ
okay, you've had your chances.... $6.84 and up....
It will crest $7.10 and keep moving.... The short shares alone will drive this to $30
within a couple of months.
cheers,
SJ
This company is set to triple by November.
I wouldn't hesitate to start building a foundation here.
I currently own 800,000 shares.
I'm not selling!
cheers,
SJ
after posting the last message.... the jump to $7.50 was a BLAST!!!!
cheers,
SJ
get on board.... the train in leaving the station! :D
cheers,
SJ
This one is moving.... If you haven't taken a look at the numbers, do so NOW!
cheers,
SJ :D
Is anyone paying attention?
Just Curious,
SJ
Trying to make you folks some money!
Quote from: sir_joke on July 06, 2006, 12:25:22 PM
Is anyone paying attention?
Just Curious,
SJ
Trying to make you folks some money!
I think you will find mostly momo players on these boards. Maybe some breakout volume and people will pay more attention. :) Nice pick!
Thanks.... I've been pitching this on a short sqeeze tech since $5.60...
I was hoping that some folks here would have joined in.
cheers,
SJ
$8.10 bottom for the day... Shorts are out of fuel...
Too mnay naked shorts.... Within 13 days they all need to be covered.
What's going to happen to pps when 9 MILLION shares need to be purchased
when the float is ONLY 31 MILLION??? 28% of the float needs to be returned.
you do the math!
cheers,
SJ
$8.10 is low of the day.... will start moving up.
Take advantage now and force the shorts to cover faster.
cheers,
SJ
Read.... ;)
http://www.3stocksonfire.org/trading/index.php?topic=811.0
well yeah, I realize this one doesn't qualify as a "penny" but small cap with huge potential...
Here it's been read 58 times.... over on the other board... 24...
Just pointing out an issue to make money on.
cheers,
SJ
This one is still moving upwards!
Target... $13.67 by end of july.
Cheers,
SJ
still heading up... no end in the short squeeze..
put your money where your interest lies...
I'm pushing this one up!
cheers,
SJ
I'm forcing hands today...
get in now while you can... target $13. and above....
this si no penny but you can all make some money.....
cheers,
SJ
can't fight the big boys on this one but... now would be an excellent entry point
8.6 million shares need to be covered via shorts...
this will drive the pps $$$$ to $24 per share.
It's hard to argue with a 300% gain.....
enter now!!
cheers,
SJ
AVNR is slowly heading for the mother of all short squeezes....
9.88 million shares short 32% of the float...
it's a battle around $6 to $8 level..
currently at the low end... strong double bottom in place at $5.40
Drug under FDA review... Neurodex for IEED. Huge market. Early approval possible.
If short squeeze is triggered pps MUST rise to $24 from current price to cover "naked" shares.
AVNR had been on the SHO list for 40 days and short position has been increasing out of deparation. They are TRAPPED. Couldn't have happened to a nicer bunch of people >:D
Positive buying of 400K shares will trigger the squeeze. It can't be controlled if sudden interest on the long side is seen.
cheers,
SJ
Still moving steadily up. Can't stop this juggernaut of a squeeze.
cheers,
SJ
looks good, and not that slow either - Friday broke the descending trendline, and next resistance is around %8.70 then $10. Not sure what is moving this othe than a bounce off a big drop, and possibly a short squeeze as you said, but I would be VERY sceptical about saying it MUST rise to $24 - plenty of heavily shorted stocks that don't meet a theoretical price a short squeeze (considering % of float) might suggest. Take each chunk of gain as they come, but so far this looks good - just keep an eye out for a top-out and retrace. Will do some more DD in the morn.
Here's a chart (you always gotta have a chart, it makes people look at what you're saying!)
Thanks for the chart...
Still going strong!
cheers,
SJ
The thing of it here is,
You started a new thread each and every time you had something to say about this stock.... ???
http://www.3stocksonfire.org/trading/index.php?topic=6146.0
http://www.3stocksonfire.org/trading/index.php?topic=6147.0
http://www.3stocksonfire.org/trading/index.php?topic=6179.0
This could have something to do with the -9 rating that you have acquired.
Why not run 1 thread to keep all of your comments on a pick in 1 place ???
With all this ,your name fits your style sir_joke!
hmmm I suppose your right, but each header was meant to be different based on daily information.
I suppose of this were a place for long term strategies I might keep a thread going longer.
ah well, Live and learn I suppose....
cheers,
SJ
ps. I have absulotely no idea what that rating means nor how it was achieved. I only drop by here rarely. I wouldn't mind learning, though.
winding upp for the next climb. Consolidating gains at very low volume.....
folks hestant as to which way the FDA knife will fall....
cheers,
SJ
It's winding up tight. 3% jump on low volume and no real resistance until $9.
gotta love it.
Don't miss out.
cheers,
SJ
Don't know about "no resistance". To me this looks like it could be the top of the move for now as it has just hit the descending trendline. Price action has beeen topping, and volume drying up, and it could easily retrace some, poss back to around $7. If it breaks 7.75-7.80, i'd look for 8.40 as its next stop, but if you've been in since the low 6's now might not be a bad time to take some profits.
Just my thoughts.
>:D You just had to say something, didn't you? And down it goes for the day....
ah well Monday is another trading day.
I'm in at $5.50 average for both bottoms at $5.40... waiting for the 3rd to really kick start the game.
Keep an eye on this one.... :o
cheers,
SJ
again... watch this one, play the daily spread and accumulate for a big pop!
42 days 'til FDA announcement. 10.7 million shares need to be covered.
institutions hold over 16 million shares of a 30 million share float. Are they the shorts as well?
It's highly unlikely. AVNR still on the SHO list.
Cheers,
SJ
Hi sir_joke ,
a believe a target at 10 is more reliable...
We can see a symetrical triangle pattern..Otherwise, a spinning top is appeared -> indecision.
Close at 6.18
stop-loss at 5.77
First Target at 7.50
Second target at 10
Reward/Risk ratio of 61.8 / 7.1 = 8.7...Good
It's moving today based on the abnormally upbeat presentation at UBS Warburg by Brandt CEO of Avanir.
All good things come to those who get in NOW!
cheers,
SJ
Well Sir-Joke,
Looks like I called it right last time on the short term top and pull-back to the low 6.00 range, but you might finally have something here. Looks like a nice potential symmetrical trinagle reversal setup. If it breaks 7.00 with decent volume, AVNR would be in breakout territory. Will keep an eye on it....
moving beyond $7 but with no real volume... ah well...
strength in time will tell.
Charts be good >:D
cheers,
SJ
Still moving... still building.
do some DD, folks. It will be worth it.
cheers,
SJ
blocked below $7... it's a hard fight but the shorts have to cover with the next 3 weeks.
FDA approval of Neurodex will cause a huge upswing in pps.
cheers,
SJ
great run on Friday... and only a small pull back today.
What was resistance is now support at $7.05.
cheers,
SJ
ps... similar to NRPH short 21% vs. AVNR short 34%
FDA approval at end of month....
AVANIR IS OFF TO THE RACES!
Cheers,
SJ
Great chart..
Triple bottom
Much props SJ,
I know you been trying to tell people here about AVNR, and you sure got your pop in the end. Long may it continue ;D
I actually tried to buy in last week but my stupid scottish broker doesn't stock their shares... needless to say I am changing brokers!!
Anyway, as for TA, I would watch how it treats $9 resistance - looks like it peeked its head and has backed off a bit today, may be worth setting a protective stop below 8.40. But you're the man on this one, so I'll leave it up to you...
Enjoy them prrofits!!
volatility is huge today.... someone crashed the pps with 350K share dump at market...
pps dropped from $9.40 to $8.40... excellent trade opportunity.
With heavy volume over the last 3 days, the stock is showing Over Bought status but that
doesn't take into account the already gigantic short position or the PDUFA in 2 weeks.
Traders are going to increase volatility... This is one to play. $9 will be broken again and then the next resistance is at $10.70 or so....
Next week's short position numbers release is going to be very illuminating.
Cheers,
SJ
ps. next couple of days range... $8.30 to $10.70 With a LOT of trading opportunities.
pps. I have an incredibly large stake in this one and therefore am not completely impartial. >:D
I think this is oversold on the news, bought ***** @ 4.12
Avanir Pharmaceuticals receives FDA approvable letter for Zenvia for the treatment of involuntary emotional expression disorder
Briefing.com - October 31, 2006 8:30 AM ET
Co announces that it has received an approvable letter from the FDA for Zenvia (formerly referred to as Neurodex) for the treatment of involuntary emotional expression disorder. The co submitted a new drug application in January 2006, seeking to market Zenvia for the treatment of IEED in patients with neurologic diseases and brain injuries. The communication from the FDA indicates that AVANIR's application is approvable, subject to the FDA and AVANIR reaching agreement on what additional safety and efficacy data will be required. In accordance with FDA procedures, the co anticipates scheduling a meeting with the agency to discuss the approvable letter. Until the co is able to meet with the agency, it can not comment on the specifics of the approvable requirements. Additionally, the co cannot be certain that once it has met with the FDA, that it will choose to continue with the development of Zenvia as previously planned. "We will be working closely with the agency to determine the next steps required for the drug to receive marketing approval," said Eric Brandt, President and Chief Executive Officer of AVANIR. "We believe Zenvia can significantly improve the lives of patients, their families and their caregivers by reducing the emotional and social toll taken by IEED." (See 10/27 archives for PDUFA preview)
Today's low @ 3.50... will be closing near it.
I think tomorrow might be another down day. I'm waiting to see tomorrow's action before talking any action
Im kinda suprised it closed down another .10 today. I missed to get in at 3.19 dang it...I was waiting for another penny!!!!
Any clues as to tomorrow after 3 consecutive down days after a BIG drop?
Got in this afternoon @ 3.33
Any short term predictions and why?
QuoteAVNR is slowly heading for the mother of all short squeezes....
9.88 million shares short 32% of the float...
it's a battle around $6 to $8 level..
It looks like those shorts were right on this one sir_joke :-\. But there are no mistakes, just lessons, and the lesson learned here must be: "a very high short interest doesn't necessarily mean the stock will go up".
Quoteps. I have absulotely no idea what that rating means nor how it was achieved. I only drop by here rarely. I wouldn't mind learning, though.
The rating is made by a voting system of our community members which posted a minimum of 50 posts. I'm sure you have the applaud/smite buttons below your rating, since you have 138 posts on 3 Stocks. You have a balance of -9 (that means you have 9 more smites than applauds, probably because of the reasons setravis told you). But keep up writing, let me applaud you to give an incentive :)
I hope TA saved Scottish Trader on this one (it's a pleasure to see you, just met some Glasgow Celtic fans this week in Lisbon, very nice people ;D).
A private placement was announced today ... I don't know much about the stock, but I don't like falling knifes. Good luck :)
Quote from: jsintexas on November 03, 2006, 09:14:36 AM
Any short term predictions and why?
Well.. after a 3rd day down, I thought it would bounce back up... guess I was wrong
Quote from: Livana on November 03, 2006, 11:53:08 AM
Quote from: jsintexas on November 03, 2006, 09:14:36 AM
Any short term predictions and why?
Well.. after a 3rd day down, I thought it would bounce back up... guess I was wrong
But today it seems it will bounce strongly ! The price for the private placement is $2.85 and the stock is rebounding from that level, as the volume picks up. The rebound can be strong enough to make you whole on AVNR. I hope so Livana :)
Yeah, a 10% bounce already since we talked about it 8). Honestly I don't know much about the company, it was just gut feel and some knowledge of candlestick theory.
I guess you'll be home by the end of the day, since your buying price was $3.33, right? Good luck (indeed, you were lucky on this one I guess, it took courage to grab that knife).
Whew! I feel much better! I got in originally at 3.37 yesterday (Thinking I was seeing a rally) and then it tumbled today. I managed to cost average down at 3.267 and it looks like I will be ok. :o
In at 3.06. Placing a bet that it stuck its landing today.
in 2.93 out at 3.20... it filled the gap at around 3.30 ....dont know this will break this resistence .....mostly they take time to come back......with hans it took a while..
Nice one ket!!
Well.. I'm a little relieved to see the close. Still down, but the situation looks better than it did this morning!
Let's hope this week does what I am thinking/hoping it will! ;)
Want to get some of you guys thoughts...
I thought with the big drop, they would recover some of it. Instead, it keeps moving down. Any thoughts? I was playing this purely on speculation... ::)
Please use the 'Search' before opening new threads, there are already 3 threads on AVNR!
http://www.3stocksonfire.org/trading/index.php?topic=6517.0 (most active one)
http://www.3stocksonfire.org/trading/index.php?topic=6179.0
http://www.3stocksonfire.org/trading/index.php?topic=6146.0
Quote from: jsintexas on November 05, 2006, 12:22:46 PM
Let's hope this week does what I am thinking/hoping it will! ;)
I'm with you on this one... Monday closing not too encouraging but we'll see
I know there are. But my post had nothing to do with "a short squeeze opportunity" that was started 3 months ago and none of that information is even relevant or even current anymore. Same with the other one that was started in July and once again the third about a "short squeeze opportunity" back in June. All of which are dead wrong huh?
Not trying to ruffle any feathers, but I think the "short squeeze opportunity" is not gonna happen anytime soon as was talked about in all 3 of those other posts. I wanted to hear what people's opinions were on the current state and PPS. :P
What's important here is that the other threads are about AVNR, it doesn't matter what kind of commentary is added in the title! If everybody is going to start a new thread each time there's some new development in a company or in it's charts or ..., this board will become a mess! ::)
se7en is right, the important thing is trying to keep everything to one thread... however, all I can say is AVNR is in no man's land. it is way below its lowest level in 3 years - there really is no support and the last week has had enormous selling volume. If you bought the gap down, thinking it would rebound, you will already be in serious hot water on this trade.
Try to do your best to be objective on this and think about limiting loss. The 15 min chart shows that AVNR found some support around the 2.87-2.88 level, which it closed right above yesterday. If it breaks this it could drop another 50 cents, really, who knows? i would set a stop around 2.85, looking for this level to hold , otherwise accept that the trade was not a good one, and move on. If you want to give yourself a little more room (and a little more risk) set it just below 2.75, friday's low.
Hope this helps
Sounds good enough. I won't open another thread if a topic exists anymore. :-[ Heck, I hardly even post to begin with. Usually, just read.
Anyway, thanks for the advice. I think I will follow it closely. Today is my "sell or hold" day. :o
Quote from: jsintexas on November 07, 2006, 08:45:22 AM
Sounds good enough. I won't open another thread if a topic exists anymore. :-[ Heck, I hardly even post to begin with. Usually, just read.
Anyway, thanks for the advice. I think I will follow it closely. Today is my "sell or hold" day. :o
Well, maybe it's time to start posting a bit more, without opening too much new (already existing) threads ofcourse! ;)
Good luck with your AVNR!
day high break 2.96 back in :)
It looks like the additional offering of 5.3M shares at $2.85 is complete. Those kinds of secondary offerings usually keep a stock pegged for a while. Maybe now it can gitty up? Just a thought...
Samantha
AVANIR Announces Cost Reduction Initiatives and Provides Update on Zenvia for IEED
San Diego, Calif., November 9, 2006 -- Avanir Pharmaceuticals (NASDAQ: AVNR) announced today that it has taken several steps intended to significantly reduce on-going operating expenses. Effective immediately the Company has suspended all commercial initiatives focused on Zenvia™ for the treatment of involuntary emotional expression disorder (IEED) and has reduced research and development expenses including placing on hold activities associated with the selective cytokine inhibitor clinical development program. These actions have led to a 16% reduction in the Company's current workforce. The Company has implemented these changes to reduce its cash burn rate to a goal of approximately $10 million per quarter, before estimated severance costs of approximately $800,000.
These actions were taken following receipt of an Approvable Letter from the U.S. Food and Drug Administration (FDA) for Zenvia. Since that time, the Company has assembled a team of professionals dedicated to addressing the Agency's concerns. The Company has added to Dr. Randall Kaye's responsibilities by appointing him as the new head of clinical development. Dr. Kaye, Vice President of Medical Affairs, and his team are dedicated to developing a comprehensive plan intended to address the concerns expressed by the FDA in its Approvable Letter. Once prepared, the Company will request a formal meeting with the FDA to ascertain the appropriate next steps required to pursue marketing approval for Zenvia. The Company currently believes that this meeting will most likely take place within the next 60 days.
"Over the last few days we have had to take steps to improve the cash position and reduce the cash burn rate for the Company. The decisions we had to make were difficult but necessary. These cost reduction actions and the recently announced financing will provide financial flexibility for the Company while determining the future opportunity for Zenvia," said Eric K. Brandt, President and Chief Executive Officer of Avanir. "We believe in the therapeutic potential of Zenvia to provide relief for this unmet medical condition. I have personally had the pleasure of talking to IEED patients and their care givers about the life changing effect the drug candidate Zenvia has had on patients' lives in our clinical trials. We will provide an update on this program once we process the feedback from our planned meeting with the FDA."
After today, I think holders are in for a lot of slow pain, since it closed red on what should have been decent news, at least enough to sustain some of it's highs it saw today. :-\
Do you think it's worth holding out til the December 11th conference call? They also said they'd respond in the next 60 days to the approvable letter...
Gosh, thats a hard call, especially with it trickling down .03-.06 cents a day. It could be down to a buck by then!
UGLY UGLY UGLY UGLY!!!!! And Damn the FDA as well.
This product will still see the light of day but short squeeze play is gone!
Ah well, for what it's worth I got slammed, blindsided, broken and pummeled....
And now I have an even larger position for the very LONG TERM.
Averaged down and put it into the "wait and see in 5 years" account.
Hopefully it won't be that long.
cheers,
SJ
Hi All - How do you know the short squeeze is gone? It still looks like a possible squeeze on Shortsqueeze.com http://shortsqueeze.com/index.php?symbol=avnr ...
They should have news in the next couple months. I'm going to keep my eyes on the options to see if I can divine a direction.
Short term ... it is a bit like water torture.
Samantha
Samantha (or anyone) can you tell me what you look for in the data you provided the link for that would indicate a possible short squeeze? I ask not because I doubt, but because I really don't know! ??? That could be good info to know.
Thanks!
the volume traded on "approvable letter" day was more than enough to cover all existing
short positions that were in place from $9.00 and above following the Sturza attack.
Only shorts are now $4 and below and that position is most likely retail and very low.
I posted the short squeeze opportunity on the basis of FDA approval and a 34% short position of the float.
That is gone now. The FDA decided that the safety trial didn't test the correct population which may be treated by new drug regime.
Remember... Quinidine sulfate is already approved at a 350mg dose for heart patients.
Dex is an over the counter ingredient in cough syrup.
Neurodex or Zenvia contains only 30 mg Quinidine and Same Dex as in the otc product.
Why this was not approved is a damn mystery that only the corruption in the FDA can be blamed.
cheers,
SJ
Hi JSINTEXAS,
These are the things I look at. I don't subscribe to the service. Instead, I run a screen and then check my findings on Shortsqueeze.com. But for me, it looks like the current short interest is increasing and the Short Squeeze Rank is hugely negative. I'm not sure how the ranking works. I'm backing into the assumption that a high negative number = big short. When you look up like OSTK, the rank is in the -700s ... and that's a well known short. If you look at MSFT, there is no rank. That's how I backed into that ranking. BUT ... with all that said, I'm willing to defer to SIR_JOKE. I'm sure he knows more about this than me... since he's been right all along. An increase in shorting when the stock is so low seems dangerous, to me, so I'm confused as to why the short interest would be increasing. Perhaps others are more gusty than me when it comes to shorting. If I'm not using that shortsqueeze site the right way - I sure hope someone sets me strait ... and fast!!!!! Thanks for your help.
AVNR $ 2.86
Shares Short 11,716,346
Shares Short - Prior 10,757,276
Short % of Float 37.77 %
Short % Increase / Decrease 8.92 %
Days to Cover (Short Ratio) 19.4
Squeeze Ranking™ -563
Total Shares - Float 31,020,000
Total Shares - Outstanding 31,732,836
samantha and jsintexas,
As David said eariler, high short interest doesn't necessarily mean that it will help the stock to go up, particularly if the chart is bearish.
"In a Bear Market, it is right to be bearish," so the shorts have it right.
Let's take TZOO (chart below), for example. It was a favorite of the shorts, like Samantha's OSTK example. Very high short interest in TZOO.
As the stock fell from $110, it would seem that the high short interest eventually would produce a "short squeeze," which means that the stock starts to raly and rally and rally, forcing the shorts to BUY in order to cover their short position. That "buying to cover" on the part of the shorts drives the stock even higher, because now both Bulls are buying, and Bears also are buying because they are forced to become buyers, in order to cover the shares that they sold short.
In TZOO, the stock was bearish, and the shorts were right. The shorts weren't forced to cover because the stock just kept going lower and lower and lower, to about $16.
In the next post, I'll show you how the shorts finally got squeezed in TZOO. Hang on...
This is a candlevolume chart. The width expresses volume, so you can get an idea of how horrific this short squeeze was.
TZOO bottomed in October, 2005, and by April, 2006, it was working on a Bullish pattern formation. It closed on April 17 at 19.98. The next session, it gapped up out of the Bullish pattern on HUGE volume, and closed at 28.59, for a 43% gain that day.
"The Squeeze was on" right there!
Shorts were in an awful position, and if they didin't cover that day, look what happened to them! TZOO "dragged the shorts higher," to $52 in a very short time. Anyone who shorted at $20, for example, would have a loss in excess of 150% at the $52.
That's the type of thing Sir Joke meant by "Mother of all short squeezes." Any move like that would qualify.
In general, in order for high short interest to be of much help to those long, the stock needs to do something bullish, like form the bullish pattern on this chart. Then when it breaks out like this, its murderous on the shorts. A lot of them will get margin calls, and have no choice but to cover.
I would suggest viewing high short interest in the context of the chart. If the chart is bearish, high short interest isn't likely to mean as much as it would if the chart looked more bullish, like AVNR did back when Sir Joke thought that there was a chance of a big Short Squeeze.
Now that the stock has crashed, the squeeze possibility is off. Yes, shorts will do some covering and probably already have (remember that the squeeze data that you have is a month old), but you also have Bulls selling here, because the chart is bearish.
Hope that helps some.
OK ... that's AWESOME!!!!! I totally get it now. That candle volume chart rocks! So in addition to finding stocks with a high short interest, I need the additional criteria of 1) Find stocks that started pretty high and have, 2) HUGE volume to the upside that 3)breaks a bearish pattern. Without those, all I've managed to do is screen for stocks that are dribbling down... which seems about right. Dang it!
Thanks for taking the time to put together such a great post. 3SOF should put this in their knowledge database. The explanation/graphics/annotation are wonderful. If I could applaud you I would ... but I haven't gotten my buttons yet... They should at least give newbies (I was a newbie yesterday ) the applaud button...
Yes, I totally agree. Thank you once again Melf, as always your analysis is incredible.
Since we are on the AVNR board, what is your analysis of this chart. I have no idea now to interpret a chart after a large gap.
Quote from: SamanthaStephens on November 14, 2006, 01:38:48 PM
1) Find stocks that started pretty high and have,
Samantha,
Yes, you want to play stock that look healthy, regardless of whether or not a short squeeze ever becomes a factor. In other words, you don't want to play stocks that are in a bearish trend, especially ones that have recently broken to the downside. It takes awhile, sometimes a very long while, for a broken stock to build a base (like TZOO did from October, 2005 to April, 2006) then break out to the upside again. Sometimes, it takes years.
Quote
2) HUGE volume to the upside that
That's what you'd like to see
after you buy. ;)
For example, when TZOO broke out from $20, and rallied 43% in one day, you don't want to chase that. It "could be" a false breakout, and come right back down, like it did just recently (chart below).
Quote
3)breaks a bearish pattern.
You mean breaks out of a BULLISH pattern. ;) I knew what you meant.
Again, you don't want to "chase" a stock if its already has run a lot higher. It would be ideal to catch them "as they breakout," or close to it, but you've really got to be prepared, and be watching closely.
Quote
Without those, all I've managed to do is screen for stocks that are dribbling down... which seems about right. Dang it!
Right. If they're trickling down in a bearish trend, leave those alone. There's a reason that the short interest is so high: the stock is BEARISH, and the shorts have it right, shorting. Sometimes, news will come out, and those bearish stocks will race higher, but that's generally uncommon.
If you like to scan for high short interest, stick with those stocks that have at least decent charts.
Good luck, Samantha, and welcome to 3SOF!
Quote from: bmarc4211 on November 14, 2006, 01:49:22 PM
Yes, I totally agree. Thank you once again Melf, as always your analysis is incredible.
Since we are on the AVNR board, what is your analysis of this chart. I have no idea now to interpret a chart after a large gap.
bmarc,
AVNR is a broken stock. Generally, when a break like this occurs, as I just said to Samantha, it takes awhile for it to recover. I'd avoid buying stocks like this. They're tempting. They "look cheap," but "cheap can get a lot cheaper." Or, stay cheap for a long time.
Remember that "the trend is your friend." Buying a stock in this situation is making a play against a very strong downtrend. It's bette (and much easier)r to buy stocks that already are in a bullish trend.
WOW! Lots of great information. I think I have a good idea. I will "play" with this strategy for a while with play money and see if I get the hang of it. In the mean time, I may be stuck with AVNR. >:(
AVANIR Pharmaceuticals Invites Investors to Listen to the Lazard Capital Markets 3rd Annual Life Sciences Conference Webcast
San Diego, Calif., November 15, 2006 -- Avanir Pharmaceuticals (NASDAQ: AVNR) will be presenting at Lazard Capital Markets 3rd Annual Life Sciences Conference on Tuesday, November 28, 2006 at 8:30 a.m. ET in New York, New York. Avanir's Senior Vice President of Sales and Marketing, Keith Katkin, will be presenting at the investor conference.
The presentation will be available via a live webcast accessible through Avanir's corporate website at www.avanir.com. To access the webcast, log on to Avanir's site fifteen minutes prior to the presentation to register and download any necessary audio software. An archive of the presentation will be available for 90 days following the event.
AVANIR Announces it has been Selected for Addition to the NASDAQ Biotechnology Index
San Diego, Calif., November 16, 2006 -- Avanir Pharmaceuticals (NASDAQ: AVNR) announced today that the Company has been selected for addition to the NASDAQ Biotechnology Index, which will be effective at the market's opening on Monday, November 20, 2006.
I know there is not nearly the short interest since it spiraled down, but there still is a significant amount. Do you think this news (and bullish activivity) will cause the shorts to cover therefore fueling the bullish activity?
I tell you from expericnce. That this stock will likely be dead for at least 3 months. I used to play these huge bio tech/drug stock drops. I would end up O.K after a year
It may have some up days and who knows it may have found a bottom but who knows...you may have a DOVP on your hands where it will gap down agaiN and become a penny stock
Still a strong bullish run this morning in PM. ;D
If this thing ever moves, I'm going to sell calls and see if I can nickel and dime my way out of the hole I'm in... :)
Samantha, we are both in about the same amount. Let's see how it does next week. Hopefully, it won't trickle back down! :'(
I hear you on that one. My setup on this was "absolutely brilliant". Ever have one of those?? ;) And as I'm explaining the method behind my madness to my broker, so he'll let me do vertical spreads ... I said, "The only thing that can make this evil plan go sideways is if the company goes out of business tomorrow...If they go out of business in 2 months, I'll already be even so who cares." That... was on 10/24. OK ... so I know it's not that bad, if they're adding it to the Biotech index. But still! And it sounds like there is a pipeline. But man this stings.
When I was looking at the option volatility it was so high ... maybe I should have read "too high" and stayed away...
There is always next week...
Sam, looks like we are sucking..... :-[
Tell me about it! Every time it makes a blip to the upside ... I get so hopeful! hahahahaha
I just keep asking myself WHY would they add a stock to an index that is seriously in jeopardy of becoming a penny stock soon. :'(
-Samantha
And that is my main reason for holding.... And if you look at thier chart (which you have) they have big swings. :o
NO ...JS ... tell me it isn't so? Could we be clawing our way out of the hole we dug?
Sorry ... that probably gooched us...
Well, I think I saw green, but we also saw green on the announcement to Nasdaq the other day too, and now we are just trying to get back to where it was then.. ::)
JSINTEXAS ... oh lord ... what do you make of the news? The last time the got an approvable letter the stock fell ... they get an approvable letter for a new formualtion of the the schizophrenia drug they already have on the market and the stock is up 8% ... Is that good news this time ... smaller doses ... easily accommodated packaging changes??
My head is spinning ... maybe that's how they plan to increase sales? I'm feeling optimistically bipolar ... you??
http://www.avanir.com/
-Sam
But we're down 4% today... not looking good. I was very hopeful yesterday for a nice bounce up.
Bit of news today:
AVANIR Pharmaceuticals Announces Conference Call to Provide Zenvia FDA Meeting Update (http://biz.yahoo.com/bw/070227/20070227005280.html?.v=1)
QuoteAVANIR Pharmaceuticals (NASDAQ:AVNR - News) today announced that management will provide an update on its meeting with the U.S. Food and Drug Administration (FDA) on the regulatory path for Zenvia(TM) for the treatment of involuntary emotional expression disorder during a conference call to be held Wednesday, February 28, 2007 at 8:00 a.m. Eastern time / 5:00 a.m. Pacific time. The call will be webcast live through AVANIR's corporate website at www.avanir.com and will feature AVANIR's President and Chief Executive Officer Eric Brandt and Vice President of Clinical and Medical Affairs Randall Kaye, M.D. A press release summarizing the highlights of the Company's FDA meeting is expected to be released on February 28 prior to the conference call.
Well, well... not as good as I was hoping for:
QuoteZenvia with additional clinical data (AVNR) 2.24 : Co announces it has met with the FDA officials to address concerns expressed in the FDA's October 30, 2006 approvable letter for Zenvia as a treatment for involuntary emotional expression disorder and to present AVNR's proposed strategy to gain approval for Zenvia for this indication. In preparation for the meeting, in Jan AVNR submitted a briefing package outlining its responses to questions contained in the approvable letter. At the core of the briefing package was PK/PD modeling based on data from prior trials supporting a proposed lower-dose formulation of Zenvia, as well as detailed statistical analysis addressing questions concerning the secondary efficacy endpoint in a prior trial. There was support for the Co's modeled lower Quinidine dose formulation to reduce QTc intervals below the 5 msec threshold as well as the C's statistical analysis presented on the secondary efficacy endpoint agreeing that Zenvia at the 30/30 dose had demonstrated efficacy in its controlled clinical studies. As a result of this analysis, the FDA has requested that AVNR supplement the new drug application for Zenvia with additional clinical data to confirm that the proposed lower dose is effective and that it enhances the safety profile.
AVNR is very, very disappointing.
I'm out at 1.6901, down 49%. I should have sold a long time ago!
Well, I have a new rule:
Never - EVER - buy a stock with some kind of FDA approval pending
Tell me about it. I'm resigned to the fact that I'm just stuck with the 2009 calls.... wwwwaaaaaaaaa!!!!!!!!!!!!!
-Sam
I'm down about 50% myself. A lot of times the biotechs come back though. Look at ELN or VPHM as an example of biotechs that rallied from multiple gap-down situations. Keep hope alive!
Man, the volume is huge... over 300 Million $$ are changing hands. :o
Volume like that, the price could rocket up again tomorrow. ;)
Quote from: setravis on August 22, 2006, 02:39:10 PM
The thing of it here is,
You started a new thread each and every time you had something to say about this stock.... ???
http://www.3stocksonfire.org/trading/index.php?topic=6146.0
http://www.3stocksonfire.org/trading/index.php?topic=6147.0
http://www.3stocksonfire.org/trading/index.php?topic=6179.0
This could have something to do with the -9 rating that you have acquired.
Why not run 1 thread to keep all of your comments on a pick in 1 place ???
With all this ,your name fits your style sir_joke!
This is why I never followed this thread.
sir_joke was a pain at starting new threads each and every time
he or she had something to say about this stock.
Even on this same stock, started threads on the Penny Stock Picking Board.
Pathetic.... >:D
"AVNR" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::) :-X :'( >:D
Thank You....and good luck with all your trades....make some $$$ ;)
Quote from: Lucas Scott on March 03, 2007, 02:52:37 AM
I'm down about 50% myself. A lot of times the biotechs come back though. Look at ELN or VPHM as an example of biotechs that rallied from multiple gap-down situations. Keep hope alive!
I re-read the entire thread.... Short squeeze has finally arrived.
Lucas, you are up 70% on this trade ;) ...... I bet Livana's is banging her head now on the wall when she sees AVNR had rocketed to the moon. :P
BTW, thanks for cleaning up AVNR threads Setravis, I saw it, it was a mess..... Applause ;)
Thank you so much Terliso for thinking of me... ;) And YES, I am banging my head on the wall, thanks you very much
(http://wemissjerry.org/smiles/bang.gif)
Hi Livana,
I would be very upset too if I were you.
Who knew that the AVNR would gap up that much before hand, unless you're glued to the screen watching the post market and up early the following day watching the premarket activity.
Looking at the chart, I would have been getting ready to buy when RSI(2) was below 20 but would have not expected this stock to gap up that much causing that short squeeze.
There will be other opportunities. :)
Ares
AVNR is active in the premarket.
Currently with a high of 4.23.
In AVNR at 3.62
Out 3.70
The 1 minute momentum low entry would have been a better entry for this stock at 3.54.
I'm waitng for a 1 minute wolfe wave re-entry.
The first 1 minute momentum entry would have been at 3.26.
In AVNR at 3.57
Out AVNR at 3.66
In again at 3.57 because the 5 minute chart looks like it has an inverse head and shoulder pattern.
AVNR current premarket high is 4.09 with over 270,000 shares traded so far.
Hi Livana,
How do I copy that head that was slamming on the brick?
I bought AVNR at 3.57 had the opportunity to sell it at 4.05 at premarket - didn't - ended up selling at 3.40 in the open market- very close to support - and became part of the momentum low volume (head hitting the wall).
Ares - I feel your pain!
The head banging guy is
[ img ]http://wemissjerry.org/smiles/bang.gif[ /img ]
(remove the spaces around the img tags)
;D
I own AVNR as well. I'm thinking these failing mini rallies over the past week may be a signal that the market is thinking the company needs to raise some cash from a public offering or something like that. ???
NRMX had to raise cash ahead of their FDA approval meeting. and their stock got hit today
It already tested the gap at $3.17 and seems to be holding as support.
Thanks Livana,
I applaud you for taking the time to show me how to paste this:
(http://wemissjerry.org/smiles/bang.gif)
(For not taking my profit at 4.05)
Press Release Source: AVANIR Pharmaceuticals
AVANIR Pharmaceuticals Completes Sale Of FazaClo
Monday August 6, 8:30 am ET
Received Upfront Payment of $43.9 Million; Eligible for Total Payments of up to $54 Million
ALISO VIEJO, Calif.--(BUSINESS WIRE)--AVANIR Pharmaceuticals (NASDAQ:AVNR - News) today announced that it has completed the sale of currently marketed, antipsychotic drug FazaClo® (clozapine, USP) to Azur Pharma, a specialty pharmaceutical company headquartered in Ireland. Upon close of the transaction AVANIR received an upfront payment of $42 million, plus an additional $1.9 million in working capital adjustments. Under the terms of the agreement, previously announced on July 3, 2007, AVANIR could receive up to an additional $10 million in payments in 2009 contingent upon certain regulatory conditions, and up to $2 million in royalties, based on 3% of annualized net product revenues in excess of $17 million.
AVANIR has allocated $11 million in payments to pay down a portion of its outstanding debt, which will be reflected on the Company's balance sheet for the year ending September 30, 2007. The Company believes that the net payments from the sale of FazaClo, plus the cash, cash equivalents and unrestricted investments in securities at June 30, 2007 will be sufficient to finance operating expenses through the end of the next fiscal year, including the initiation of the planned confirmatory Phase III clinical trial of Zenvia(TM) in patients with involuntary emotional expression disorder (IEED), otherwise known as pseudobulbar affect (PBA).
"The rapid close of this transaction is a testament to our team's ability to execute on our strategic objective of becoming a late-stage, clinical development company dedicated to improving treatments for central nervous system conditions," said Keith Katkin, AVANIR's President and CEO. "We remain focused on the clinical development of our core asset, Zenvia, where we believe we can generate the most shareholder value."
Also under terms of the agreement, Azur Pharma has assumed AVANIR's future earn-out obligations to the prior owner of Alamo Pharmaceuticals payable upon the achievement of certain sales milestones after the closing of the transaction. AVANIR will finalize the transfer of FazaClo business operations to Azur Pharma in the coming months.
About AVANIR
AVANIR Pharmaceuticals is focused on developing, acquiring and commercializing novel therapeutic products for the treatment of chronic diseases. AVANIR's products and product candidates address therapeutic markets that include the central nervous system (CNS), inflammation and infectious diseases. AVANIR's lead product candidate Zenvia is being developed for the treatment of IEED, also known as pseudobulbar affect (PBA), and is the subject of an approvable letter from the FDA for that indication. Additionally, AVANIR announced meeting all primary endpoints in a recently completed Phase III clinical trial with Zenvia in patients with diabetic peripheral neuropathic (DPN) pain. AVANIR has also licensed a compound to Novartis International Pharmaceutical Ltd. for the treatment of inflammatory disease. AVANIR's infectious disease drug candidate, AVP-21D9, is a human monoclonal antibody in pre-clinical development for the treatment of anthrax with funding to date from an NIH/NIAID grant. The Company's first commercialized product, Abreva®, is marketed in North America by GlaxoSmithKline Consumer Healthcare and is the leading over-the-counter product for the treatment of cold sores. Further information about AVANIR can be found at www.avanir.com.
Forward Looking Statements
Statements in this press release that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "intend," "anticipate," "believe," "plan," "goal," "expect," or similar statements, are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by such statements. There can be no absolute assurance that the proceeds received by the Company from the sale of the Company's FazaClo operations, together with the Company's other available funds, will be sufficient to fund the Company's operations as currently anticipated, or that the Company will be able to commence and complete planned clinical trials within the projected time periods. Risks and uncertainties affecting the Company's financial condition and operations also include the risks set forth in AVANIR's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and from time-to-time in other publicly available information regarding the Company. Copies of this information are available from AVANIR upon request. AVANIR disclaims any intent to update these forward-looking statements.
To be included on AVANIR's e-mail alert list; click on the link below or visit AVANIR's website: http://www.b2i.us/irpass.asp?BzID=958&to=ea&s=0
Reedland Capital Partners, an Institutional Division of Financial West Group, served as the financial advisor to AVANIR in the transaction.
Contact:
Lippert/Heilshorn & Associates, Inc.
Jody Cain/Brandi Floberg, 310-691-7100
[email protected][email protected]--------------------------------------------------------------------------------
Source: AVANIR Pharmaceuticals
Friday's closing chart.......
(AVNR)
AVANIR Sees Early Gains After SPA
Agreement w/FDA for Ph III Trial of Zenvia(TM)
An upside mover in early trading on Monday is AVANIR Pharmaceuticals
(AVNR). Shares have seen a high of +36%, and volume has been
108.91% above its 20-day average. The Company reached a definitive
agreement with the FDA, under the Special Protocol Assessment (SPA)
process, on the design of a single confirmatory Phase III clinical trial of
Zenvia(TM) (dextromethorphan/quinidine) for the treatment of patients
with pseudobulbar affect in patients with amyotrophic lateral sclerosis
and multiple sclerosis.The study will assess the safety, efficacy pharmacokinetics
of two doses. The primary efficacy analysis will be based
on the changes in crying/laughing episode rates recorded in the patient
diary. The trial is expected to begin by the end of 2007. Pseudobulbar
affect, also known as involuntary emotional expression disorder (IEED)
and emotional lability, is a neurologic disorder that occurs secondary to
neurologic disease or brain injury causing sudden and unpredictable
episodes of crying, laughing, or other emotional displays. Pseudobulbar
affect is estimated to impact more than 1 million people in the United
States with underlying neurologic conditions such as multiple sclerosis
(MS), amyotrophic lateral sclerosis (ALS), Parkinson's disease,
dementias including Alzheimer's disease, stroke, and traumatic brain
injury. Episodes may occur when disease or injury damages the area
of the brain that controls normal expression of emotion. This damage
can disrupt brain signaling causing a "short circuit" and triggering involuntary
episodes. There are currently no FDA approved treatments for
pseudobulbar affect. Zenvia is a combination of two well-characterized
compounds, the active ingredient dextromethorphan, and the enzyme
inhibitor quinidine, which serves to increase the bioavailability of dextromethorphan.
This dual action glutamate inhibitor is believed to help
regulate excitatory neurotransmission to diminish the unpredictable
emotional episodes of pseudobulbar affect. Earlier this year, AVANIR
announced positive top-line results from its Phase III clinical trial evaluating
Zenvia in diabetic peripheral neuropathic pain. Both Zenvia treatment
groups had lower pain ratings than placebo patients. The most
commonly reported adverse events were dizziness, nausea, diarrhea,
fatigue and somnolence and were generally mild to moderate in nature.
"Current treatment options are either partially effective or don't work at
all for more than one-half of people suffering from diabetic neuropathic
pain. The results of this study provide additional evidence that Zenvia,
if approved, may be a safe and effective treatment option for the millions
of Americans suffering from diabetic neuropathic pain," said Keith
A. Katkin, President and CEO of Avanir Pharmaceuticals. AVANIR'S
Abreva(R), docosanol 10% topical cream treatment for recurrent herpes
simplex labialis episodes (episodes of cold sores or fever blisters) that is
marketed by GlaxoSmithKline PLC (GSK), is the only non-prescription
cold sore medicine approved by the FDA to shorten healing time and
duration of symptoms. According to Pharmacy Times Magazine, Abreva
is the most recommended treatment by pharmacists for cold sores. The
Company recently completed the sale of currently marketed antipsychotic
drug FazaClo(R) (clozapine) to Azur Pharma in Ireland for an
upfront payment of $42 million, plus an additional $1.9 million in working
capital adjustments. AVANIR could also receive up to an additional $10
million in payments in 2009 contingent upon certain regulatory conditions,
and up to $2 million in royalties, based on 3% of annualized net
product revenues in excess of $17 million. For the third fiscal quarter
ended June 30, 2007, the Company cut its losses to $0.23 per share,
compared with a net loss of $0.56 per share, for the comparable quarter
in 2006. The Company has cumulative net losses of approximately
$248 million and cash and cash equivalents of $7.5 million.
UPDATE 1-Avanir shares soar on nod for involuntary-emotion drug
Mon Nov 1, 2010 11:28am EDT
* Avanir plans to engage 75 sales reps
BANGALORE, Nov 1 (Reuters) - Shares of Avanir Pharmaceuticals Inc (AVNR.O) more than doubled in value Monday after U.S. regulators approved its treatment for a genetic disorder Friday, making it attractive to larger firms looking for a strong product that has cleared the regulatory hurdle.
The U.S. Food and Drug Administration approval makes the drug Nuedexta the first approved treatment for the little known, but not that rare, condition called pseudobulbar affect (PBA) in which patients cannot control outbursts of crying or laughter. [ID:nN29270454].
On a conference call with analysts, the company said it plans to launch the drug in the United States in the first half of 2011 and engage about 75 sales representatives for its marketing.
Canaccord Genuity analyst Ritu Baral, who said Avanir might look for partners in the European markets, expects a "strong launch" in the United States.
Baral, like most analysts, expects the company to go it alone in marketing the treatment in the United States, but look for partners in Europe, where it has yet to be approved.
As of Sept. 30, the company's total cash, cash equivalents and restricted investments were $39.4 million.
Avanir said many interested companies had contacted it even before the drug was approved, and "given the great news on Friday, we would just expect to see that interest increase."
Baral, who expects the drug to reach peak sales after five years of commercialization, said large firms such as Biogen Idec (BIIB.O), Teva Pharmaceutical (TEVA.O) (TEVA.TA) and Novartis AG (NOVN.VX) that focus on central nervous system disorders could find Avanir attractive.
Large pharmaceutical companies are on the lookout for strong ready-to-market or late-stage product as many face an impending patent cliff on several blockbuster products.
Also on Monday, Avanir reiterated that it expects the treatment to cost $3,000-$5,000 annually, but said it would provide further pricing details in November or December.
CLEAN LABEL
"To add icing to the cake, there is no black box warning on Nuedexta's label, which gives Nuedexta no restrictions in its target patient population," Jefferies & Co analyst Andrew Fein said.
A black box warning on the packaging of a prescription drug highlights safety risks.
Fein said although the label specifically highlights the effectiveness of the drug in multiple sclerosis and Lou Gehrig's disease (ALS) patients, off-label usage will have a broader patient pool.
Fein expects the drug, which was denied approval about four years ago on safety concerns, to generate annual revenue of about $255 million by 2013.
The company's shares, which have lost about 12 percent since the FDA accepted the resubmission of the application in May, rose 111 percent to $5.11 Monday on Nasdaq.
---------------------------------------------------------------------------------------------------------------
Day's Range: 4.67 - 5.80
52wk Range: 1.31 - 5.80
Volume: 50,921,635
Avg Vol (3m): 2,278,910
Market Cap: 450.02M
P/E (ttm): N/A
EPS (ttm): -0.28
Div & Yield: N/A (N/A)
Technicals
Last Price Quote is:
64.89%above 13-day MA
58.83%above 50-day MA
RS Rating: 94
market pulse
Nov. 1, 2010, 10:06 a.m. EDT
Avanir leads drug stocks north...
BOSTON (MarketWatch) -- Avanir Pharmaceuticals /quotes/comstock/15*!avnr/quotes/nls/avnr (AVNR 4.81, +2.39, +98.76%) led drug stocks north early Monday, with shares soaring on news that U.S. regulators have approved its neurology drug Nuedextra. Avanir shares zoomed up 120% to $5.26.
AVNR AVANIR Pharmaceuticals Invites Investors to Conference Call ...
ALISO VIEJO, Calif., Nov. 1, 2010 /PRNewswire via COMTEX/ -- AVANIR Pharmaceuticals, Inc. (AVNR) today announced a management conference call to discuss the approval of NUEDEXTA(TM) (dextromethorphan hydrobromide and quinidine sulfate) by the U.S. Food and Drug Administration (FDA). The call is scheduled for today, Monday November 1, 2010 at 5:15 a.m. Pacific time / 8:15 a.m. Eastern time.
The live call can be accessed by dialing (877) 558-3407 for domestic callers and (706) 679-1941 for international callers. The conference ID number is 22130601. A webcast of the live call can be accessed by visiting AVANIR's corporate website at www.avanir.com . To view the live webcast, please go to AVANIR's website prior to the start of the call to register, download, and install the necessary software.
An archived copy of the webcast will be available on AVANIR's website for 30 days, and a telephone replay will be available through November 6, 2010, by dialing (800) 642-1687 (domestic) or (706) 645-9291 (international) and entering the conference ID number 22130601.
About NUEDEXTA
NUEDEXTA(TM) is the first and only FDA-approved treatment for pseudobulbar affect (PBA). NUEDEXTA is an innovative combination of two well-characterized components; dextromethorphan hydrobromide (20 mg), the ingredient active in the central nervous system, and quinidine sulfate (10 mg), a metabolic inhibitor enabling therapeutic dextromethorphan concentrations. NUEDEXTA acts on sigma-1 and NMDA receptors in the brain, although the mechanism by which NUEDEXTA exerts therapeutic effects in patients with PBA is unknown.
NUEDEXTA is indicated for the treatment of pseudobulbar affect (PBA). PBA occurs secondary to a variety of otherwise unrelated neurological conditions, and is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying. PBA episodes typically occur out of proportion or incongruent to the patient's underlying emotional state. Studies to support the effectiveness of NUEDEXTA were performed in patients with amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS). NUEDEXTA has not been shown to be safe and effective in other types of emotional lability that can commonly occur, for example, in Alzheimer's disease and other dementias. The primary outcome measure, laughing and crying episodes, was significantly lower in the NUEDEXTA arm compared to placebo. The secondary outcome measure, the Center for Neurologic Studies Lability Scale (CNS-LS), demonstrated a significantly greater mean decrease in CNS-LS score from baseline for the NUEDEXTA arm compared to placebo.
NUEDEXTA Important Safety Information
NUEDEXTA can interact with other medications causing significant changes in blood levels of those medications and/or NUEDEXTA. NUEDEXTA is contraindicated in patients receiving drugs that both prolong QT interval and are metabolized by CYP2D6 (e.g., thioridazine and pimozide) and should not be used concomitantly with other drugs containing quinidine, quinine, or mefloquine. NUEDEXTA is contraindicated in patients taking monoamine oxidase inhibitors (MAOIs) or in patients who have taken MAOIs within the preceding 14 days. NUEDEXTA is contraindicated in patients with a known hypersensitivity to its components.
NUEDEXTA may cause serious side effects, including possible changes in heart rhythm. NUEDEXTA is contraindicated in patients with a prolonged QT interval, congenital long QT syndrome or a history suggestive of torsades de pointes, in patients with heart failure as well as patients with, or at risk of, complete atrioventricular (AV) block, unless the patient has an implanted pacemaker.
NUEDEXTA causes dose-dependent QTc prolongation. When initiating NUEDEXTA in patients at risk of QT prolongation and torsades de pointes, electrocardiographic (ECG) evaluation of QT interval should be conducted at baseline and 3-4 hours after the first dose.
The most common adverse reactions in patients taking NUEDEXTA are diarrhea, dizziness, cough, vomiting, weakness, swelling of feet and ankles, urinary tract infection, flu, elevated liver enzymes, and flatulence.
NUEDEXTA may cause dizziness. Precautions to reduce the risk of falls should be taken, particularly for patients with motor impairment affecting gait or a history of falls.
Patients should take NUEDEXTA exactly as prescribed. Patients should not take more than 2 capsules in a 24-hour period, make sure that there is an approximate 12-hour interval between doses, and not take a double dose after they miss a dose.
These are not all the risks from use of NUEDEXTA. For additional important safety information about NUEDEXTA, please see the full Prescribing Information at www.NUEDEXTA.com .
About PBA
Patients suffering from existing neurological disease or brain injury may also suffer the added burden of pseudobulbar affect, or PBA. PBA occurs secondary to a variety of otherwise unrelated neurological conditions, and is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying. PBA episodes typically occur out of proportion or incongruent to the patient's underlying emotional state. PBA outbursts result from a "short circuit" in the brain caused by another neurologic condition--such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS), stroke, or traumatic brain injury. PBA can have a debilitating impact on the lives of patients, caregivers and loved ones. For more information about PBA, please visit www.PBAinfo.org .
About AVANIR Pharmaceuticals, Inc.
AVANIR Pharmaceuticals, Inc. is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need. As part of our commitment, we have extensively invested in our pipeline and are dedicated to advancing medicines that can substantially improve the lives of patients and their loved ones. For more information about AVANIR, please visit www.avanir.com .
About Forward-Looking Statements
Statements in this press release that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "intend," "anticipate," "believe," "plan," "goal," "expect," "project," or similar statements, may be forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by such statements. These statements include, but are not limited to, AVANIR's ability to successfully market and sell NUEDEXTA in the United States, the safety and efficacy of NUEDEXTA, and the anticipated timing and success of the commercial launch of NUEDEXTA. Risks that could cause actual results to differ include the occurrence of adverse safety events with NUEDEXTA, our limited capital resources, our dependence on third parties for manufacturing and distribution of NUEDEXTA, that we may not adequately build or maintain the necessary sales, marketing, supply chain management and reimbursement capabilities on our own or enter into arrangements with third parties to perform these functions in a timely manner or on acceptable terms, and other risks that are described in further detail in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and from time-to time in other publicly available information regarding the Company. Copies of this information are available from us upon request. We disclaim any intent to update these forward-looking statements.
SOURCE AVANIR Pharmaceuticals, Inc.
Congress Sets Bad Precedent With AVANIR
May 26, 2011
As if AVANIR Pharmaceuticals (Nasdaq: AVNR ) investors needed another thing to cry about. The chairman of the Senate's Special Committee on Aging and three congressmen are questioning the pricing of the company's pseudobulbar affect drug, Nuedexta.
This seems kind of ridiculous to me. AVANIR got the drug approved for pseudobulbar affect, a disease for which there wasn't any other approved treatment. The company should be rewarded accordingly.
But investors shouldn't ignore the action in D.C. There's at least a small risk that AVANIR could be pressured to lower its average cost, which currently stands at about $4,365 per patient each year. Nuedexta is a mixture of two unpatented drugs. Compounding pharmacies were combining the two before the approval for 1/30th the cost.
KV Pharmaceutical (NYSE: KV-A) ran into similar problems earlier this year with preterm labor prevention drug Makena, which was also being compounded before KV gained FDA approval. The company subsequently caved and significantly lowered the cost of its drug.
Congress wants information about how much it costs to develop the drugs from AVANIR and another company, URL Pharma, which is in a similar situation. As if that should have any bearing on what price the market should pay for the drug.
It seems to me that Congress is setting a dangerous precedent that drug investors should keep a close eye on. It starts with already discovered drugs being expanded into new indications, but what's to keep it from extending to patented drugs. High-priced cancer drugs like Dendreon's (Nasdaq: DNDN ) Provenge and Bristol-Myers Squibb's (NYSE: BMY ) Yervoy could be the next targets.
Day's Range: 4.51 - 4.73
52wk Range: 1.31 - 5.80
Volume: 6,127,015
Avg Vol (3m): 6,611,460
Market Cap: 579.52M
Technicals
Last Price Quote is:
8.42%above 13-day EMA
13.93%above 50-day EMA
RS Rating: 92