Here's what I got from the article:
"On July 15, the FDA's Endocrinologic and Metabolic Drugs Advisory Panel will review VVUS's NDA submitted for Qnexa."
"The panel's recommendations are not binding on the FDA, but are usually followed. Watch the FDA web site a few days in advance of the panel meeting for the briefing documents, which may give some hints as to the direction the panel is leaning."
So, the FDA final decision may not come until October, but it sounds like the panel's recommendations coming out on July 15 may tell the story ahead of that decision.
On Thu, Jun 24, 2010 at 12:47 PM, Jack Dodson <jackrdodson@gmail.com > wrote:
Well, I pasted my comments on vvus that I made on another board below. Since there is supposedly no decision forthcoming from the FDA until October, I don't understand the high premium in July, but I am sure there is something that I don't know about that will bite me in the rear.... however, I sold some puts anyway. - Jack D.The news article below says the drug will be submitted to the panel to review on July 15, but no decision until late October. July Optiion expiration is July 17 and I wouldn't think that anything would be decided by then. Why isn't this just a good speculative opportunity to sell some July puts?
Finally, the big news obesity drug investors are all waiting for. On July 15, the FDA's Endocrinologic and Metabolic Drugs Advisory Panel will review VVUS's NDA submitted for Qnexa. The FDA decision is not expected until late October, so there may be time to go back to the drawing board if additional analyses of the existing data are required. http://seekingalpha.com/article/ 208308-short- squeeze-potentia l-in-arena- as-vivus- panel-date- looms?source= etrade
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