Tuesday, December 3, 2013

Seeking Alpha: Amicus Takes A Certain Step Back For An Uncertain Step Forward

I'll happily grant that the best path between two points isn't always a straight line, but with all of the ups and downs (mostly downs) from Amicus (FOLD) over the past year, I can understand if investors no longer want to wait around to see if this recent strategic retrenchment proves a sound move for the long-term.

With lead drug migalastat unlikely to make it to market as a monotherapy, little data on combo therapy in Fabry's, and a one year delay in the Pompe program, not to mention Glaxo (GSK) bowing out of the migalastat program, bears have a lot to chew on. I'm somewhat more bullish on the acquisition of Callidus, though, and I think the market may be overlooking signs that migalastat could still be viable as part of a combo therapy. Amicus shares could still be worth as much as $4 today, but investors should note that this is a very high-risk/high-uncertainty opportunity.

Please read the full article here:
Amicus Takes A Certain Step Back For An Uncertain Step Forward

No comments: