BST Position Update – February 23, 2015

. . . . Array BioPharma (NASDAQ: ARRY) – Sell

Our shares of ARRY have doubled in price. The most recent uptick came after the company struck a deal to purchase a cancer treatment in late stage development.

There’s clearly some big upside associated with any cancer treatment. But I think the stock has gotten a little ahead of itself. I think it’s time to cash in and take our profits off the table.

Sell ARRY now to capture a solid 100% gain on this trade.

. . . . Venaxis (NASDAQ: APPY) – Sell

APPY’s blood test designed to identify patients at low risk for acute appendicitis was not found to be substantially equivalent to standard of care.

In other words, the treatment we were looking to as a catalyst is dead in the water… it’s time to sell APPY to conserve capital.

. . . . Catalyst Pharmaceutical Partners (NASDAQ: CPRX) – Sell

CPRX is a bit of hot button biotech stock.

The company is seeking to profit on Firdapse. The active ingredient, 3.4-Dap, is already widely used to treat LEMS. They are simply trying to repackage and profit from an existing treatment.

What’s more, there’s no guarantee there will be demand for Firdapse because 3.4-Dap is already available in the US.

We’re currently up 80% on this trade. And I think it’s time to take our profits. Sell CPRX now.

. . . . AcelRx Pharmaceuticals (NASDAQ: ACRX) – Hold

ACRX has been moving higher in a hurry. We’re now up 27% on this stock in less than two months.

The stock is clearly building bullish momentum as they prepare to resubmit Zalviso for FDA approval.

I believe ACRX will satisfy the FDA’s concerns and the treatment will be approved for use in the US. Continue holding for more upside.

Action To Take

• Sell Array BioPharma (NASDAQ: ARRY).
• Sell Venaxis (NASDAQ: APPY).
• Sell Catalyst Pharmaceutical Partners (NASDAQ: CPRX).

Category: BST Update