Monday, March 17, 2014

Trade Updates - Rigel Pharma, KaloBios Pharma

The Nasdaq Bio Index is up a solid 1.48% to start off the week.  Oxigene is off to a strong start, up over 7% thus far for the day.  I added two new positions to my portfolio late last week.

I purchased 3,000 shares of KaloBios (KBIO) at $3.09.  The company is expecting phase 2 results in the 4th quarter for cystic fibrosis patients with chronic PA lung colonization.  They also expect phase 2 results on their trials in AML and MDS (Leukemia) in the 2nd quarter of 2015.  They have two solid partnerships with Sanofi and Novartis as well as $76 million in cash (end of Q4) which makes me feel better about investing in a company with a small market cap of $101 million.  They are a long ways away from getting a product to market but at $101 million and for the reasons mentioned above, they seem to be a great value. 


KBIO

 
3.07  


4,000   $3.0884   -$83.59   -0.68%   $12,280.00  


I purchased 3,000 shares of Rigel (RIGL) at $3.98 and to my surprise the stock jumped up over 13% by the end of the week so it's currently trading at $4.50.  They have phase 2 results in dry eye expected in the 2nd half of the year and they are also initiated a phase 3 study of their drug to treat ITP, an autoimmune disease that affects approximately 60,000 people in the United States.  They have a very strong cash position of $212 million as of the end of the year and partnerships with AstraZenenca, BerGenBio, and Daiichi Sankyo. 


RIGL

 
4.58  


3,000   $3.9792   $1,792.41   15.00%   $13,740.00



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