Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

June 18th, 2014

Insmed Incorporated (INSM)

The diamond for June 18th is the biopharmaceutical company, Insmed Incorporated. The company was granted the Breakthrough Therapy Designation, meaning the FDA is willing to expedite the development and review of the drug. Arikayce, the treatment drug for adults with nontuberculous mycobacterial (NTM) that received the grant, had positive Phase II clinical trial results. NTM is a disease in extreme need of treatment, which may be part of the reason why the FDA is looking to push the drug through to approval. Insmed's stock price soared 47% up to $17.50, which contrasted the downward movement of the stock price a few months prior to the grant. Now, the company has price targets ranging from $30 to $50, making this security one to watch.

Endocyte, Inc. (ECYT)

Biopharmaceutical companies, notorious for their volatility, are in focus today as our dog is Endocyte, Inc. On Tuesday afternoon, the company announced that Merck & Co. would no longer contribute to the development of the ovarian cancer drug, vintafolide. Now, the company has regained worldwide rights to their drug and plan on evaluating it "for future development opportunities." On May 2nd, the drug failed Phase III studies, and the stock price fell about 60%. After plummeting 25% after hours on Tuesday afternoon, the company's stock price ended in the red by about 14% to about $6.50. Without the funding from Merck & Co., many investors are left wondering about the other early development drugs that are being funded by this company and the future of this stock.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.