Light At The End Of The Tunnel For Treatment Failure Gout Sufferers? (SVNT)

There may be a light at the end of the tunnel for treatment failure gout (TFG) sufferers.Savient PharmaceuticalsInc. (NASDAQ SVNT) is responsible for shining that light, in the form of their ambitious drug Krystexxa. TFG is a form of the crippling disease in which those afflicted can not take or do not respond to traditional treatment. Back in February the FDA appointed the Arthritis Advisory Committee to evaluate the drug amidst safety concerns, as well as extending the PDUFA action date by three months to July 30th. Share prices sank with this news as worries about the panel’s recommendation took their toll on investors. As of June 16th those fears could be laid to rest as the committee voted in a landslide (14-1) decision to recommend the drug for approval. Though the FDA is not obligated to adhere to this recommendation, more often than not it does. In the month since the committee vote Savient’s stock has risen by over 88%, and has been on Wall Street’s buy list for two consecutive months. The fact that gout is believed to have existed since 2600 B.C. and that there has not been a new treatment approved in over forty years highlights the potential for this company. With the extended FDA action date just around the corner the stock has still not returned to last years numbers, though it has seen impressive growth in the past month as it seems more likely to gain approval. Add to that the unserved market that Krystexxa will cater to, and Savient could prospectively shatter all of their previous records. Do you believe that Krystexxa will be approved? Swing by the FavStocks.com stock market forum and add your two cents on the subject, and while you are at it get up to date on other biotech companies by taking advantage of our free FDA calendar.

Jay Garcilazo

http://www.favstocks.com/forum/