NeurogesX (NGSX) Sees Upside Despite Unlikely FDA Approval
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Price: $0.01 --0%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Speculators are buying up NeurogesX (Nasdaq: NGSX) today ahead of a decision from the FDA on Qutenza, for the management of neuropathic pain (nerve pain) related to HIV associated peripheral neuropathy (HIV-PN).
The upside comes despite an FDA panel decision on February 9 not to recommend FDA approval of a new indication. That news sent shares down 28 percent, from $0.80 to $0.58.
More important for investors to focus on is the fourth quarter results and conference scheduled tomorrow, Thursday, March 8. Analysts at Wedbush, "expect NGSX to announce a significant restructuring of the Company, rationalizing the majority of the commercial part of the organization and focusing the remaining resources on the development of NGX-1998."
Mid-day shares of NeurogesX are up 39 percent. Hopefully today's upside is based on expectations of a potential restructuring, not expectations of FDA approval.
The upside comes despite an FDA panel decision on February 9 not to recommend FDA approval of a new indication. That news sent shares down 28 percent, from $0.80 to $0.58.
More important for investors to focus on is the fourth quarter results and conference scheduled tomorrow, Thursday, March 8. Analysts at Wedbush, "expect NGSX to announce a significant restructuring of the Company, rationalizing the majority of the commercial part of the organization and focusing the remaining resources on the development of NGX-1998."
Mid-day shares of NeurogesX are up 39 percent. Hopefully today's upside is based on expectations of a potential restructuring, not expectations of FDA approval.
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