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hurricanematt
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Will this bounce? Just saw this on CSNBC
Posts: 722 | From: Asheville, NC | Registered: Dec 2005  |  IP: Logged | Report this post to a Moderator
dollar13
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looking good here .

a lot of buys

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Dudanation
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Wow. One little failure and the stock goes from stable to nothing. This could be a good buy once it trickles down to a stable low. Or it's possible this was only a panic sell and it'll shoot back up a little Tuesday. I think it's a little too dramatic to stay like this.

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This is some pretty gay Mc. Bestiality.

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NEL
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Holy cow its like CSHD (the drop - not the company) but bigger money. Down 80% from $23+ to $4.05
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10of13
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what was the drop for? Anyone know?

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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hurricanematt
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A Nasty Knock for Nuvelo
5:02p ET December 11, 2006 (S&P)
Nuvelo (NUVO) shares plummeted to a new low for the year on Dec. 11, after news about failed trials for a new blood clot dissolver called alfimeprase.

The San Carlos (Calif.)-based Nuvelo and Bayer HealthCare, a subsidiary of the German drug maker Bayer (BAY), had hoped that the drug alfimeprase could dissolve clots quickly and safely, helping to treat people who have artery problems.

But now the companies said Dec. 11 that a late stage trial of alfimeprase did not meet its goal of keeping patients with blocked arteries from escaping their need for surgery within 30 days of treatment. Another trial failed to meet its goal to restore within 15 minutes the function of blocked catheters, which are tubes that move liquids into or from the body.

"These outcomes are disappointing particularly for patients with (the artery illness known as acute peripheral arterial occlusion) (PAO), who have few treatment options," said Dr. Ted W. Love, chairman and chief executive officer of Nuvelo.

His company and Bayer haven't yet completely given up hope. They're going to do more analyses and will talk to authorities to figure out how to proceed with the development of alfimeprase. One possibility might be to use different dosing of the drug.

Dubious investors dumped the stock 79% to $4.05 per share in afternoon trading on the Nasdaq Dec. 11. Nuvelo had hit a 52 week low of $3.35 per share earlier Dec. 11.

JP Morgan downgraded the stock to neutral from overweight, explaining that alfimeprase had been a key driver for Nuvelo's value as a company. "Whereas we had previously expected a 2008 U.S. launch, timelines for potential market entry are uncertain," analyst Geoffrey Meacham said in a research note.

Nuvelo has a couple other potential drugs in development (one for colorectal cancer and an anticoagulant treatment for acute coronary syndromes) but JP Morgan thinks meaningful clinical data for those compounds are a few years away. (JP Morgan has recently sought or done business with Nuvelo.)

Nuvelo's setback is yet another to hit the beleagured industry in recent weeks. Pfizer said Dec. 2 that it's abandoning its study of torcetrapib, at the recommendation of the independent Data Safety Monitoring Board (DSMB), because of increased deaths and heart problems associated with the drug.

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dollar13
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quote:
Originally posted by 10of13:
what was the drop for? Anyone know?

not sure 10, but the volume yesterday was twice the O/S...


KIND OF WEIRD

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hurricanematt
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Nuvelo and Bayer Healthcare Announce Phase 3 Trials of Alfimeprase in Patients With Acute Peripheral Arterial Occlusion and Catheter Occlusion Did Not Meet Primary Endpoints
6:00a ET December 11, 2006 (PR NewsWire)

Nuvelo, Inc. (Nasdaq: NUVO) and Bayer HealthCare today announced top-line data demonstrating that the Phase 3 clinical trial of alfimeprase in acute peripheral arterial occlusion (PAO), known as NAPA-2 (Novel Arterial Perfusion with Alfimeprase-2), did not meet its primary endpoint of avoidance of open vascular surgery within 30 days of treatment. The companies also announced that the Phase 3 trial in catheter occlusion (CO), known as SONOMA-2 (Speedy Opening of Non-functional and Occluded catheters with Mini-dose Alfimeprase- 2), did not meet the endpoint of restoration of function at 15 minutes. These trials did not meet key secondary endpoints. In addition, the companies announced that they have temporarily suspended enrollment in the ongoing Phase 3 trials, NAPA-3 and SONOMA-3, until further analyses and discussions with outside experts and regulatory agencies are completed.

These data will be submitted for presentation at the next appropriate medical meetings.

"These outcomes are disappointing particularly for patients with acute PAO, who have few treatment options," said Dr. Ted W. Love, chairman and chief executive officer of Nuvelo. "We and our partner Bayer will conduct further analyses and have discussions with the Data Safety and Monitoring Board members, outside experts and regulatory authorities to determine how to proceed with the development of alfimeprase, including the possibility of alternative dosing and delivery."

About NAPA-2

NAPA-2 was a randomized, double-blind study that compared the efficacy and safety of 0.3 mg/kg of alfimeprase versus placebo in 300 patients worldwide. The study's primary endpoint was avoidance of open vascular surgery within 30 days of treatment. A variety of secondary endpoints were also evaluated, including restoration of arterial blood flow, safety endpoints such as the incidence of bleeding, and pharmacoeconomic endpoints such as length of hospital and intensive care unit stay.

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hurricanematt
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Im in at $4.32
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podcaster
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there was a hard news item about a buyout. it was in wall street journal online but nobody was subscribed to it so no name of buyer was mentioned on boards i've checked. anybody know who the possible buyer was? i've got enquiries in at Bristol-Myers Squibb and at Nuvelo since last night but no reply yet... most ppl seem to believe the new valuation is around $7.50 or $8 (without a buyout offer). looking around, a small minority feel it'll tank. i dunno- i'm in it now so we'll see.
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podcaster
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from yahoo finance after wednesday close...
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"Nuvelo Inc.'s trading volume soared for the third day in a row after the biotech drug maker said its blood thinner drug candidate failed a late-stage trial. But shares edged higher in trading as Pacific Growth Equities analyst Liana Moussatos upgraded the shares on Wednesday to "Buy" from "Neutral," saying that investors oversold Nuvelo in response to the drug's failure in the trial.

"Shares rose 14 cents, or 3 percent, to $4.22, with trading volume of 11.4 million, versus 4.6 million on average."

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