Receptos (RCPT) has given its shareholders a pretty wild ride, even for an early-stage biotech. Up around 125% from when I wrote on it as a Top Idea and 39% from my Christmas Eve update,
the intervening time has seen the shares shoot up to $55 (90% higher
than the price on Christmas Eve) on expectations for strong Phase II
data and rumors of a buyout before the shares were cut in half over two
months as that speculation cooled and momentum investors bailed out of
biotechs.
Now the roller coaster is shooting higher again as those
strong Phase II data on RPC1063 in relapsing multiple sclerosis have
materialized. Receptos still has to successfully complete its Phase III
study, but the promise in multiple sclerosis can nearly support the
stock on its own, let alone adding in the potential from the ulcerative
colitis indication and additional compounds in the pipeline.
Read more:
Receptos Continues To Hit Its Marks
No comments:
Post a Comment