Diamonds and Dogs
Time to get rid of your migraine with today's diamond. Alder Biopharmaceuticals (ALDR) is surging over $8 or 50% after announcing positive top line data for their clinical trial migraine preventative drug. The drug, ALD403, reduced migraine days by at least 75% in 41% of patients who took the highest dose. Nearly 13 million patients across the U.S. are candidates for migraine prevention drugs, making it an attractive and potentially lucrative market for pharmaceutical companies. Plus, Alder's drug sets itself apart thanks to the fact the injection need only be taken every few months instead of every month. Here's to more good news coming from Alder Biopharmaceuticals.
Someone opened Pandora's box on today's dog. Pandora Media (P) is tumbling 12% not far from the 52 week low after replacing the CEO with the founder this weekend. The Internet music service provider has been unprofitable each year since its IPO in 2011, losing more money not less with each new listener. In fact, about half of Pandora's revenue goes toward paying for the rights to play songs to their 80 million listeners. Let's hope the company finds a solution so the music doesn't have to die.