by: Mike Havrilla posted on: August 07, 2008 | about stocks: Shares of Discovery Labs have been drifting lower in recent trading and last closed at $1.72, which is a nice entry point for a long position for speculative biotech investors. Since meeting with the FDA in mid-June, the Company has trended lower on investor disappointment that the Company would delay its response to the most recent approvable ruling for Surfaxin until September. However, the Company still expects a Class I review (60 days), which could result in approval for Surfaxin by late November or early December without the need for additional time-consuming and expensive clinical trials as the outstanding issues appear to be minor with the FDA. Summer is typically a slow time for biotech trading and provides a good time to accumulate shares ahead of...
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