Eli Lilly Stops Alzheimer's Drug Development

Brent Archer — Tue, 17 Aug 2010 13:30:00 EST

Filed under: Bad News, Options, Technical Analysis

Eli Lilly (LLY - option chain) stock is trading lower today after the company announced it has halted development of an experimental drug for Alzheimer's disease, citing studies showing the drug worsened patients' conditions and was associated with an increased risk of skin cancer. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on LLY.

This morning, LLY opened at $35.08. So far today the stock has hit a high of $35.15 and a low of $34.45. As of 12:10, LLY is trading at $34.69, down $0.88 (-2.4%). The chart for LLY looks neutral and S&P gives LLY a neutral 3 STARS (out of 5) hold ranking.

Continue reading Eli Lilly Stops Alzheimer's Drug Development

Eli Lilly Stops Alzheimer's Drug Development originally appeared on BloggingStocks on Tue, 17 Aug 2010 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC)

Marjorie Backman — Wed, 12 Nov 2008 13:35:00 EST

Filed under: Small Business, Technology, NASDAQ

Earlier this week I met with three CEOs of the neurotech industry -- Ron Cohen of Acorda Therapeutics (NASDAQ: ACOR), Uli Hacksell of Acadia Pharmaceuticals (NASDAQ: ACAD) and Jörn Aldag, of Evotec (NASDAQ: EVTC) -- along with Zack Lynch, the director of their trade association. Their November 10 media tour gave me a chance to gain some insight into this niche within the biotech industry of companies seeking cures for brain illnesses through drugs and devices.

At a time when revenues from blockbuster drugs are tapering off as their patents expire, these companies -- and their two-year-old Neurotechnology Industry Organization -- are hoping to unlock a new area of business growth while offering cures to ailments of longer-living populations and diseases involving the central nervous system.

Hawthorne, New York-based Acorda is already selling its first product, Zanaflex Capsules, which help control spasticity. Its Fampridine medication, aimed at bettering the walking capability of people with multiple sclerosis, is still undergoing Phase 3 testing. Update: November 14: Ron Cohen let me know Acorda has successfully completed Phase 3 testing of Fampridine
and intends to apply early next year for Food and Drug Administration approval to market it.

Meanwhile, San Diego-based Acadia, led by Hacksell, is conducting Phase 3 clinical trials of pimavanserin, which addresses psychosis related to Parkinson's disease.

Evotec, a Hamburg, Germany, company, whose acquisition of San Francisco-based Renovis in May could better position it to attract U.S. venture capital, is working on remedies for insomnia, Alzheimer's disease and smoking cessation.

Continue reading Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC)

Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC) originally appeared on BloggingStocks on Wed, 12 Nov 2008 13:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments