CRME
CRME, a small Canadian early stage phamaceutical company which I featured on July 10th, announced posi
tive results on one of its key drugs this morning and it appears that the stock will jump by about 25%-30%. While I am certainly not blaming any one for taking some profit right here, I believe the stock still has upside. Remember, it fell down from $13 to $7 due to a specific FDA refusal to accept its NDA, not today's positive announcement. There is a second leg which is when it resubmit its amended NDA to FDA and if accepted, will give the stock another $2-$3 up at least. I believe this is $15 stock when FDA accepts its NDA, and $20 stock when the drug is approved by early 2007.
tive results on one of its key drugs this morning and it appears that the stock will jump by about 25%-30%. While I am certainly not blaming any one for taking some profit right here, I believe the stock still has upside. Remember, it fell down from $13 to $7 due to a specific FDA refusal to accept its NDA, not today's positive announcement. There is a second leg which is when it resubmit its amended NDA to FDA and if accepted, will give the stock another $2-$3 up at least. I believe this is $15 stock when FDA accepts its NDA, and $20 stock when the drug is approved by early 2007.
posted by ZIGZAG at 7/24/2006 08:40:00 AM
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