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On March 26, 2006, the FDA issued an “approvable” letter to Encysive Pharmaceuticals, just about halving the stock from $9 to $5 in a single day. In it, the FDA asked for more data on the company’s arterial hypertension drug, Thelin. Yep, it’s been a long, windy, gloomy road for Encysive shareholders, but that may all change for the $327 million company by this Friday, June 15, 2007.
That’s when the company will hear from the FDA about its application for Thelin. While approval is still a “heartbeat” away from a sure thing, there is no guarantee at this point. Still, should the beaten-down stock be green lighted for Thelin, the stock could easily gap up nicely. But that’s speculation. Nothing’s written in stone. We’re dealing with the FDA here. Even though Thelin has already been approved and launched in the UK, Germany, and Australia, there never is a guarantee with FDA politics.
Come this Friday says Crisis Trader editor Christian DeHaemer, “You can buy the whole seat, but you’ll only need the edge.”
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