ITMN - InterMune Inc. - Healthcare - Biotechnology
Website: http://www.intermune.com/wt/home
Friday's news release from the company website that caused the huge gap up at the opening bell:
http://phx.corporate-ir.net/phoenix.zhtml?c=100067&p=irol-newsArticle&ID=1399323&highlight=
Another news release released on Friday:
InterMune Stock Gets Boost as FDA Staff Questions Lung Drug:
http://blogs.wsj.com/health/2010/03/05/intermune-stock-gets-boost-as-fda-staff-questions-lung-drug/?mod=yahoo_hs
By James A. White
The FDA staff said it has a bunch of questions about InterMune’s new drug to slow deteriorating lung functioning. But investors figure the concerns weren’t as bad as they could have been, sending the biotech’s shares soaring.
The stock jumped as much as 74% after FDA reviewers said only one of InterMune’s two late-stage trails for the experimental drug pirfenidone had met its main goal and added that “the clinical significance of the treatment effect size is uncertain.”
The FDA documents, which were released ahead of an advisory panel meeting to discuss the drug Tuesday March 9th, also had a mix of other things to say.
All things considered, an Oppenheimer analyst noted the “tone was less negative than expected,” all things considered and there was room for the drug to still get FDA approval. The shares settled down in later trading, but still finished up nearly 60% for the day.
InterMune often appears on lists of likely biotech takeover candidates. FDA approval of pirfenidone would give it two drugs on the U.S. market.
The new drug would treat idiopathic pulmonary fibrosis, which affects about 200,000 Americans, the majority of whom eventually die of respiratory failure. The FDA noted that there aren’t any approved drugs to treat IPF, although drugs like corticosteroids and drugs that suppress the immune system are used, according to Dow Jones Newswires.
The company also put out material noting that “the slowing of progression in loss of lung volume constitutes a clear benefit to patients,” Reuters said.
Here’s more news that came out on Friday about ITMN:
http://www.prnewswire.com/news-releases/intermune-announces-posting-of-briefing-documents-for-fda-advisory-committee-meeting-on-pirfenidone-86546937.html
http://www.forbes.com/2010/03/05/intermune-fda-drug-markets-equities-pharma-update.html?partner=yahootix
http://finance.yahoo.com/news/InterMune-Shoots-Higher-On-ibd-3578098094.html?x=0&.v=1
http://www.foxbusiness.com/story/markets/industries/health-care/fda-posts-documents-briefing-new-drug/
The last paragraph of this article mentions ITMN may be a buyout target by a big pharma company:
http://blogs.wsj.com/health/2009/08/21/is-1-billion-is-the-right-price-for-pharma-ma/
Here is some Fundamental Analysis information:
Look at the difference in the numbers shown by the Yahoo Finance and the Finviz.com sites. Notice the differences between the Float numbers, the percentage of shares owned by Institutions, and the percentage of shares owned by Insiders. There is also a large difference in the number and the percentage of shares that are Short.
That's probably due to when each site updates their data. I usually prefer to get my information from Yahoo Finance, because they usually update their data faster than Finviz.com does.
I read on the IHUB message board that Insiders recently purchased 30 million shares, but I haven't been able to verify that yet. That may account for the differences between the Yahoo Finance and the Finviz.com information.
The Yahoo Finance numbers:
The Finviz.com numbers:
Look at all of the Insider Transactions for January 26th, 2010. Insiders started buying again on that date, which is a vote of confidence from the people that run this company:
But here, Yahoo Finance missed Oppenheimer's reiteration of an Outperform rating on January 25th, 2010.
Yahoo Finance:
Finviz.com:
Here is an hourly, daily, and a weekly chart of ITMN. There is a short YouTube video below these chartrs that shows Technical Analysis of these charts.
Here is the Option Chain for ITMN as of the close on Friday March 5th, 2010. These Options expire on the third Friday in March, which is March 19th, 2010:
Here's a nine minute YouTube video that analyzes ITMN's charts:
Happy Trading,
zigzagman
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