VPHM - Sector: Healthcare---Industry: Biotechnology & Drugs

[422fwhp]

I like the chart here...back above the 9sma, too.

Nibbled some @ $14.36

GLTA...Jody

[422fwhp]

just FYI:

Study by VPHM to Help Long-Term

ViroPharma (Nasdaq: VPHM) plans to conduct an exploratory study of
C.difficile infected patients in order to prove that the
gastrointestinal track of these patients varies greatly, not only
between infected patients, but significantly enough from healthy
patients that in vitro dissolution testing should not be considered
adequate enough to prove bioequivalence for a potential generic oral
vancomycin (Vancocin).

We do not see a potential generic alternative until 2010. By that
time we believe ViroPharma will be a dramatically different looking
company with potentially both Maribavir and HCV-796 on the market.
We continue to rate the shares a Buy with a $21 target.
http://www.zacks.com/research/get_news.php?id=099b9877&t=VPHM
(ty LaOnda)

I probably wouldn't have nibbled a bit if I'd seen your "short" post Terliso   I'm scared now!   

[la-onda]

Schering-Plough, partners present data on hepatitis C drug
By Robert Daniel
Last Update: 2:50 AM ET Apr 11, 2007
TEL AVIV (MarketWatch) -- Schering-Plough, (SGP ) the Kenilworth, N.J., drugmaker, said it is exploring therapeutic ways to use its Pegintron drug combined with investigational antiviral agents "to optimize treatment for patients with more difficult-to-treat forms" of
chronic hepatitis C, "such as those with HCV genotype 1 and nonresponders to previous therapy." And SGP said it is collaborating with Wyeth/ViroPharma (WYE ) (VPHM ) and Idenix/Novartis (IDIX ) (NVS ) to conduct separate in-vitro studies of SGP's boceprevir combined
with its partners' respective investigational HCV polymerase inhibitors. Boceprevir is an investigational oral HCV protease inhibitor in Phase II development to treat chronic hepatitis C. These experiments suggest that boceprevir combined with either of the polymerase inhibitors from Wyeth/ViroPharma or Idenix/Novartis "achieves additive antiviral activity and a complementary resistance profile; the combination of two agents increases the barrier for
developing resistance to either drug alone," SGP said.
Schering-Plough will be presenting at the European Association for the Study of the Liver annual meeting in Barcelona, Spain, on April 11 through 15.

[ScottishTrader]

looks like VPHM has got come upside momentum back!!  `nice to see it get into that gap!

[la-onda]

double bottom play ?

[422fwhp]

I like the chart here...back above the 9sma, too.

Nibbled some @ $14.36

GLTA...Jody

Still holding and looks to be just getting started, imo....of course it will come back to the 9sma for a healthy check....hopefully it stays above.

GLTA...Jody

[422fwhp]

 

Still holding...should come down for a healthy 'check' of the 9sma...hopefully it stays above it.

GLTA...Jody

[la-onda]

VPHM update:

1)
ViroPharma "market outperform"
Monday, April 16, 2007 7:06:40 AM ET
JMP Securities
NEW YORK, April 16 (newratings.com) - In a research note published on April 13, analyst Adam Cutler of JMP Securities reiterates his "market outperform" rating on ViroPharma Inc (ticker: VPHM). The target price is set to $18
2)
ViroPharma "buy," target price raised
Monday, April 16, 2007 10:18:50 AM ET
Lazard Capital Markets
NEW YORK, April 16 (newratings.com) - Analysts at Lazard Capital reiterate their "buy" rating on ViroPharma Incorporated (ticker: VPHM). Lazard raises their VPHM tgt to $24 from $21 after the co announced solid Phase Ib combination HCV-796 trial efficacy results at EASL on
Friday, in line with their expectations. The firm sees catalysts as: a decision from the OGD/FDA on Vancocin generic drug applications; initiation of Maribavir Phase III SOT trial in 2Q07; and data from HCV- 796 Phase II trial beginning in 3Q07.
The target price has been raised from $21 to $24.

[la-onda]

Lazard update:
ViroPharma "buy," target price raised

Tuesday, April 17, 2007 8:43:23 AM ET
Lazard Capital Markets
NEW YORK, April 17 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on ViroPharma Incorporated (ticker: VPHM), while reducing their estimates for the company.
The target price has been raised from $21 to $24.
In a research note published yesterday, the analysts mention that the company has posted robust Phase Ib combination HCV-796 trial efficacy results, in-line with the estimates. The trial exhibited the safety and efficacy of HCV-796 monotherapy, with an additional benefit of an improved resistance profile, the analysts say. ViroPharma is expected to report annual interest expenses of $15 million associated with a convertible debt financing, which the company had undertaken in March this year, Lazard Capital adds. The EPS estimates for 2007 and 2008 have been reduced from $1.09 to $1.00 and from $1.23 to $1.12, respectively.

[la-onda]

nice chart set up!!
Terliso, you like the crossing EMA lines  ?

cheers
O.

[la-onda]

fyi:
VPHM: Short Interest UP 35.5% to 9.5M in Apr 2007
Tuesday , April 24, 2007 16:22ET

According to new short interest data from NASDAQ, short interest for Viropharma, Incorporated (NasdaqNM: VPHM) INCREASED 35.5% to 9,538,746 shares for the month ended mid-April, 2007.

SYMBOL        MARCH           APRIL          CHANGE       %CHANGE  DAYS/COVER
--------   -------------   -------------   -------------  ------------  ----------
VPHM           7,038,107       9,538,746      +2,500,639       +35.53%           5

Based on VPHM's 20-day average daily share volume of 2,013,930, it would require approximately 5 day(s) of buying to cover this short interest.

[la-onda]

it seems that I am the only VPHM investor left on the 3SoF board  & 
just FYI, tomorrow earnings will be better as expected 
big news
1)
VPHM: To Release Q1 Results May 02 [BMO]
Tuesday , May 01, 2007 13:00ET
Viropharma, Incorporated (Nasdaq NM: VPHM) is scheduled to release its Q1 financial results on May 02, 2007, before the market opens (BMO).

CONSENSUS ESTIMATES:
Q1 Revenue: $46.76 million
Q1 EPS: $0.26 per share

PREVIOUS PERIOD:
Prev Q1 Revenue: $29.37 million
Prev Q1 EPS: $0.12 per share

2)
ViroPharma Announces Decision To Develop And Commercialize Maribavir In Europe
Tuesday , May 01, 2007 16:20ET

EXTON, Pa., May 1 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) announced the decision to establish a wholly owned European subsidiary to execute on the European regulatory strategy and commercialization of maribavir, ViroPharma's selective oral antiviral targeting cytomegalovirus, without a strategic partner.

"This is an exciting time for ViroPharma as we have made the decision to launch our European initiatives to meet the medical needs of European transplant patients," commented Michel de Rosen, ViroPharma's chief executive officer. "Maribavir is an extraordinary compound; it could make a major difference for physicians and patients throughout the world. Our management team has vast experience in European commercialization and development, and we already have the interest of many European key opinion leaders thanks to our strong Phase 2 data and ongoing Phase 3 program. We believe that establishing European operations will provide numerous benefits to us and our stockholders, including the potential for an ex-U.S. revenue stream that we anticipate will significantly offset the necessary infrastructure investments; this is the best way for ViroPharma to maximize the value of maribavir."

ViroPharma has begun to establish the European development and commercialization infrastructure, and is implementing its European regulatory strategy.

"We believe that Europe offers a strong growth opportunity for ViroPharma, so it is appropriate that we have now begun to establishing our footprint there," commented Daniel Soland, ViroPharma chief commercial officer. "We anticipate that we will have a strong exclusivity proposition in Europe, similar to that of the U.S. In addition, the European market dynamics are similar to that of the U.S. market. There are a comparable number of transplants each year, and a concentrated field of treating physicians: the top 100 centers perform more than 70 percent of the transplant procedures. It is clear to us that we can develop this infrastructure, which we can also leverage to other product opportunities, at a moderate cost - and through it, bring to market for the first time in nearly a decade an entirely new anti-CMV agent for European transplant patients."

3)
Robert G. Pietrusko Joins ViroPharma as Vice President of Global Regulatory Affairs and Quality
Tuesday , May 01, 2007 16:21ET

EXTON, Pa., May 1 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) announced today that Robert Pietrusko, Pharm. D. has joined the company and it's management team as vice president of global regulatory affairs and quality. Dr. Pietrusko will oversee the planning, implementation and optimization of ViroPharma's worldwide quality and regulatory strategies. His focus will be on helping to guide the development of ViroPharma's key pipeline opportunities, including maribavir, HCV-796, and NTCD; providing regulatory support for ViroPharma's physician education efforts in C. difficile-associated disease and assuring patient safety; providing additional leadership in quality assurance and compliance; and providing regulatory strategy and support for any additional compounds acquired by ViroPharma. He joins ViroPharma from his previous post as senior vice president of worldwide regulatory affairs for Millennium Pharmaceuticals, Inc.

"Now more than ever, it is essential that a biopharmaceutical company has a world class regulatory affairs strategy and capability enabling it to work closely with regulatory authorities in assuring patient safety and bringing important new drugs to market," commented Michel de Rosen, ViroPharma's chief executive officer. "In that regard, ViroPharma is fortunate to be able to attract someone of Bob's caliber, and I welcome him to the company."

Continued de Rosen, "Bob brings over two decades of pharmaceutical regulatory and quality knowledge - first at GlaxoSmithKline and most recently at Millennium - to ViroPharma's already strong management team, along with a wealth of product approval experience. He has played a significant role in the approval of 11 new products during his career to date, including Millennium's Velcade(R) (bortezomib) for multiple myeloma and GlaxoSmithKline's Havrix(R) (hepatitis A vaccine, inactivated) for prevention of Hepatitis A, and is one of the most knowledgeable regulatory professionals in anti-infectives and antivirals today. We expect this vast knowledge and regulatory experience to be instrumental to the regulatory success of our clinical compounds, and toward the achievement of our corporate growth goals."

[la-onda]

ViroPharma Incorporated Reports First Quarter 2007 Financial Results
Wednesday May 2, 7:30 am ET

EXTON, Pa., May 2 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM - News) reported today its financial results for the first quarter ended March 31, 2007.

Highlights since the beginning of 2007 included:

Clinical Pipeline:
-- Additional HCV-796 phase 1b data highlighting antiviral activity and Tolerability presented at 2007 EASL conference;
-- Enrollment in the 500 mg cohorts (non-responders and treatment naive) of our HCV-796 phase 2 trial is ongoing for second quarter completion;
-- Four-week treatment data from the 500 mg cohorts of our HCV-796 phase 2 trial anticipated in third quarter 2007; 12-week data from the 500 mg cohorts anticipated in fourth quarter 2007;
-- Start of maribavir Phase 3 in liver transplant expected in second
quarter 2007; and
-- Decision reached to commercialize maribavir in Europe, independent of strategic partners.

Vancocin®:
-- Vancocin achieved $49 million in net sales;
-- Prescriptions for Vancocin grew 13 percent compared to first quarter of 2006, as estimated by IMS; and
-- Wholesaler inventory remained consistent with that at end of year 2006.

Financial:
-- Successful convertible debt offering completed, increasing cash by
$219 million;
-- Working capital increased to $508 million; and
-- Cash, cash equivalents and short-term investments grew to $481 million.

Net sales of Vancocin® were $49.0 million for the first quarter of 2007, which compares to $29.2 million for the first quarter of 2006.

Operating income was $32.9 million for the first quarter of 2007, which compares to $13.4 million for the first quarter of 2006. Operating income for 2007 was impacted by increases in gross product margin, partially offset by increased costs to support our CMV and HCV development programs.

"The first quarter of 2007 was one of tremendous momentum throughout the organization; we made great strides in moving the clinical pipeline steadily forward, and our financial results for the period were very strong," commented Michel de Rosen, ViroPharma's chief executive officer. "We can today confirm our previously stated clinical timelines for 2007, including our expectation that we will start our second Phase 3 study of maribavir in solid organ transplant patients, and complete enrollment in the 500 mg cohorts of our Phase 2 clinical study of HCV-796 during the second quarter of this year. As such, we expect to disclose our 4-week treatment data from the 500 mg cohorts of this Phase 2 study of HCV-796 in the third quarter of 2007, and then to follow it with 12-week treatment data from the 500 mg cohorts in the fourth quarter. Operationally, prescriptions for Vancocin continued to be strong, up 13 percent over that of the first quarter of 2006. This, along with the completion of our convertible offering, drove our working capital up by $241 million to $508 million, the highest point in the company's history."

Continued de Rosen, "We recently made the important decision to commercialize maribavir not only in the U.S., but also in Europe, independent of strategic partners. We believe that this decision will provide great value to our shareholders over the long term, due to the value that we expect to be provided by commercializing this product in the U.S. and Europe. Cytomegalovirus is a worldwide disease; there are approximately the same numbers of transplant patients in Europe as there are here in the U.S. each year, all of whom are at heightened risk of potentially deadly CMV disease. As such, we will continue to be expeditious in our development, but focused on the global ramifications of this deadly disease."

Net income was $22.1 million for the first quarter of 2007, which compares to $8.2 million for the first quarter of 2006. Net income per share for the quarter ended March 31, 2007 was $0.32 per share, basic and $0.31 per share, diluted, compared to a net income of $0.12 per share, basic and diluted, for the same period in 2006. The increase in net income primarily resulted from the impacts of increased operating income.

Operating Highlights

During the quarter ended March 31, 2007, net sales of Vancocin increased 67.7 percent compared to the same period in 2006 primarily due to units sold and the impact of price increases during 2007 and 2006. The quarter comparison was impacted by the timing of wholesaler purchasing decisions which included a decrease in wholesalers' inventory levels during the 2006 period, as compared to the 2007 period where wholesalers' inventory remained relatively constant. Based upon data reported by IMS Health Incorporated, prescriptions during the quarter ended March 31, 2007 exceeded prescriptions in the 2006 period by 12.9 percent.

The gross product margin rate (net product sales less cost of sales as a percent of net product sales) for Vancocin increased to over 90 percent from approximately 80 percent. The increase is the result of the price increases and lower cost of sales per unit. The lower cost per unit primarily results from the sale of units during the first quarter of 2007, which were manufactured by OSG Norwich and carried a lower inventory cost than the units sold during the first quarter of 2006 that were manufactured by Eli Lilly & Co.

The total remaining costs and expenses associated with operating income were $13.9 million and $10.3 million for the quarters ended March 31, 2007 and 2006, respectively.

The Company's effective income tax rate was 39.4 percent and 40.1 percent for the quarters ended March 31, 2007 and 2006, respectively. Income tax expense includes federal and state income tax at statutory rates and the effects of various permanent differences.

Working Capital Highlights

As of March 31, 2007, ViroPharma's working capital was approximately $507.7 million, which represents a $241.2 million increase from December 31, 2006. This increase is primarily the result of the senior convertible notes issued on March 26, 2007 and cash flows provided by sales of Vancocin, partially offset by the purchase of the Company's corporate headquarters building.

The Company issued $250.0 million of 2 percent senior convertible notes due March 2017 in a public offering. Net proceeds from the issuance of the senior convertible notes were $241.8 million. The Company used a portion of the net proceeds to purchase a call spread for $23.3 million.

Looking ahead in 2007

ViroPharma is commenting upon previously announced guidance for the year 2007 as a convenience to investors. The following guidance provided by ViroPharma are projections, based upon numerous assumptions, all of which are subject to certain risks and uncertainties. For a discussion of the risks and uncertainties associated with these forward looking statements, please see the Disclosure Notice below.

For the year 2007, ViroPharma expects the following:

-- Net product sales are expected to be $195 to $205 million;
-- Gross margin rate for Vancocin is expected to exceed 90 percent;
-- Research and development (R&D) and marketing, general and administrative (MG&A) expenses, excluding the impact of SFAS 123R, are expected to be $60 to $72 million.
-- The SFAS 123R impact to the above expenses will be in the range of $7.5 to $8.5 million.  Including the impact of SFAS 123R, the research and development (R&D) and marketing, general and administrative (MG&A) expenses are expected to be between $67.5 and $80.5 million.

[la-onda]

Looks very inticing on the surface.  The trouble with VPHM has always been valuation.  Because vanco is unpatented and the FDA is, as of today, willing to permit a showing of equivalence without clinical trials, VPHM could easily drop to single digits in one day again, if the FDA denies VPHM's "appeal."  Too much risk here for me. 

buddjas1 I totally disagree, it is the pipeline (HCV796 & Maribavir) that is much more interesting from now on.
The legal case pending on FDA is very strong.
Generic production from Vancocin is very complex and earliest entry point could be end of 2008.


just my 2 cents
Oliver

[DragonAMG]

Looks very inticing on the surface.  The trouble with VPHM has always been valuation.  Because vanco is unpatented and the FDA is, as of today, willing to permit a showing of equivalence without clinical trials, VPHM could easily drop to single digits in one day again, if the FDA denies VPHM's "appeal."  Too much risk here for me. 

buddjas1 I totally disagree, it is the pipeline (HCV796 & Maribavir) that is much more interesting from now on.
The legal case pending on FDA is very strong.
Generic production from Vancocin is very complex and earliest entry point could be end of 2008.


just my 2 cents
Oliver

Do you think David should revise his valuation model and add to the main portfolio at these levels?  Where do you see this stock by year end?