Upcoming Catalysts that Should Rally These Biotechs

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Submitted by Scott Matusow as part of our contributors program.

Upcoming Catalysts that Should Rally These Biotechs

In the developmental biopharma segment of the market that we follow daily at stockmatusow, stock prices sometimes experience volatile moves, especially as a near-term catalyst event approaches. Today we look at 5 developmental biopharmas that should see significant upward price movements due to these companies having significant catalysts coming up in the near future.

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Synergy Pharmaceuticals (SGYP) is a biopharmacetuical company that focuses on developing drugs to treat gastrointestinal (GI) disorders and diseases. The company’s two leading products are Plecanatide (SP-304) and SP-333. The company is expecting to release topline data from its Phase IIb IBS-C trial in the 2nd quarter 2014.

Insiders have also been buying Synergy stock this year with the most recent buy on October 29, 2013. Most of the purchases were above the current level of the stock. As insiders, they have the best indication of where the stock will be going in the future and it is encouraging to see them start to put their money behind the company before data release.

The Baker Brothers also have a position in Synergy at about $4.23 a share. They have about 2.7M shares, or about $12M worth. This is bullish for the company, since the Baker Brothers have an excellent track record in biotech investments.

Based on upcoming catalysts and bullish sentiment by insiders and the Baker Brothers, we expect Synergy to reach at least $6 before data release.

Progenics Pharmaceuticals (PGNX) is a biopharmaceutical company that focuses on developing oncology drugs. Progenics has two upcoming catalysts:

Progenics is expecting to announce data from its Phase II PSMA ADC trial at the American Society of Clinical Oncology meeting in January 2014. As well, Progenics has a scheduled a tentative advisory panel meeting (ADCOM) in March (10th – 11th) to review an sNDA for Relistor expanded usage in OIC (opioid induced constipation) chronic pain.

In a December 6 press release Progenics Executive Vice President Prober Israel stated:

“PSMA ADC is the most advanced antibody drug conjugate in clinical development to treat prostate cancer. Based on the data seen with PSMA ADC in chemotherapy experienced patients, we have decided to explore whether this compound can also benefit men in the less clinically advanced chemotherapy na