|SIGA on target, plus Bio-Matrix and Adventrx's plays|
|By Vinny Cassano|
|Friday, 29 January 2010 06:45|
RBC Capital initiated coverage of SIGA Technologies (Nasdaq:SIGA) on Thursday with a rating of 'Outperform' and a price target of $11- although RBC also stated that the stock price could go as high as $26, depending on the size of the BARDA smallpox contract that is deemed likely to, at least in part, be awarded to SIGA.
Shares of SIGA jumped just over three percent on the news.
There's no telling when the BARDA contract will be awarded. In late November we had rumors that the contract was about to be awarded, but then the government decided to re-open the bidding when some complained that the original bid was to specificly biased towards SIGA. Technologies. That delayed things, but M.E. Garza who first alerted readers about that development in November tells me that things are still "on-track," and that the company still expects to get the very big contract. All of that aside, I still like the price of the March call options - there was no significant move in options after the RBC news was released during the AM hours Thursday.
SIGA Technologies, Inc. (SIGA) is a drug development company in the biodefense arena. Its portfolio of existing drug candidates and its platform for developing additional countermeasures against potential agents of biological warfare are intended to fill a critical need for treatments. Its product, the smallpox therapeutic ST-246 has completely prevented mortality in each and every animal efficacy trial and is undergoing NDA-enabling studies.
Bio-Matrix Scientific Group, Inc. (OTC:BMSN) announced on Thursday that the company's majority-owned Subsidiary, Entest BioMedical, will be Featured on 'Ask the Doctor', a Stem Cell Pioneers forum.
Bio-Matrix Scientific Group Inc. is in the business of designing, developing and marketing medical devices, specifically disposable instruments used in stem cell extraction and tissue transfer procedures and operating cryogenic cellular storage facilities, specifically stem cell banking facilities.
Shares of Adventrx Pharmaceuticals, Inc. (AMEX:ANX) dipped down to below thirty cents again on Thursday after having risen to a high of over fifty cents earlier this month when the company announced an NDA filing for ANX-530. The news of the NDA was followed by a stock offering.
Vinny Cassano also authors the popular biotech stock blog VFC's Stock House. He is long ANX, BMSN and SIGA