Staff and Wire Reports
Wednesday, 04 August 2010 04:53
Avanir Pharmaceuticals (NasdaqGM: AVNR) focuses on acquiring, developing, and commercializing novel therapeutic products for the treatment of central nervous system disorders primarily in the United States and Canada.
One of only two companies coming up for an FDA approval of their products, AVNR has been granted an SPA (special protocol assessment) with the FDA. [See BioMedReport's FDA Calendar for pending decision dates and more information.] Because the FDA and a company addressed all aspects of the design and analysis of their clinical trial before it began, the FDA presented a signed agreement stating that if the trial was run exactly as designated, and the results were positive, then the company's drug would be approved. That is a significant ace in the hole for AVNR.
During their recent presentation at the Wedbush Securities Life Sciences Best Ideas Management Access Conference on Tuesday, August 3rd highlighted the compny highlighted some great points investors should remember. It also indicates key resons why this could be a great play for October.
Wedbush currently has AVNR rated as "Outperform" and they've placed a $9 target price on them. In addtion, Wedbush has had some updates regarding their coverage of AVNR.
Specifically, AVNR is their top small-cap pick in 2010. They have a great combo of a small-cap biotech with a pending FDA approval for a product with significant market opportunity. Zenvia is wholly-owned by AVNR and they have every intention of marketing it to the maximum degree.
The significant market opportunity really sets AVNR apart from the biotech crowd. Zenvia in other indications outside of PBA will be for 2 types of neuropathic pain. Those are diabetic peripheral neuropathic pain, pain secondary to MS and agitation secondary to dementia or Parkinson's related dyskinesia. These are all very large markets that have an unmet medical need.
Wedbush has compared the opportunity for AVNR to investors with Acorda in 2005. Both had similar market-caps and potential. Acorda now has a market-cap of $1.5 billion.
Also, investors should be aware that AVNR has a conference call before market open on Thursday, August 5, 2010. It will be releasing unaudited fiscal third quarter financial results for the three and nine months ended June 30, 2010.
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