{"id":3156,"date":"2012-10-01T22:46:24","date_gmt":"2012-10-02T02:46:24","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=3156"},"modified":"2012-10-01T22:46:24","modified_gmt":"2012-10-02T02:46:24","slug":"a-59-return-since-transcepts-fda-approval","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/a-59-return-since-transcepts-fda-approval-3156","title":{"rendered":"A -59% Return Since Transcept&#8217;s FDA Approval"},"content":{"rendered":"<p>When Transcept Pharmaceuticals (NASDAQ: TSPT) received FDA approval for its four-hour sleeping pill, <em>Intermezzo,<\/em> its stock was trading as high as $12.99 per share. Today, it trades at $5.23 per share. Needless to say, sales expectations for <em>Intermezzo<\/em> have not lived up to expectations; and as if a -59% return were not bad enough, the company recently told investors that\u00a0Actavis, Watson filed for a generic version of Transcept&#8217;s\u00a0<em>Intermezzo,<\/em> the flagship product of the company.<\/p>\n<p>Investors were told to take solace in the fact that Transcept had filed legal action against the competition.<\/p>\n<p>When shares were trading at $12.99, <em>Intermezzo<\/em>\u00a0was the only Food and Drug Administration approved drug for middle-of-the night insomniacs. It was tested to be safe for consumption with only four hours remaining of sleep (as opposed to the typical sleeping pill&#8217;s eight hours). Today, at $5.23 per share,\u00a0<em>Intermezzo<\/em> has become another commodity with diminishing ability to command high profit margins. Many other companies also make competing sleeping pills, including pharmaceutical giants Merck and Teva.<\/p>\n<p>Finances at the company continue to reflect pre-approval status, including a steady cash burn, heavy spending on research and development, and minimal sales. Transcept lost $5.1 million in the second quarter of 2012 and generated only $500,000 in revenue. A conference call on August 13 also failed to impress investors; the stock fell over 10% by the subsequent week.<\/p>\n<p>On May 15, Cowen\u00a0\u00a0initiated analyst coverage of Transcept Pharmaceuticals with a Buy rating.\u00a0On June 4,\u00a0Leerink Swann also initiated analyst coverage at Buy\/Outperform. Both analysts are underwater on their prediction.<\/p>\n<p>Once playing a pivotal role in the demise of Dendreon (NASDAQ: DNDN) under a former corporate name, Novacea, newly-named Transcept Pharmaceuticals has shifted its focus from cancer towards the development and\u00a0commercialization of products that address therapeutic needs in the field of neuroscience. After achieving FDA approval of\u00a0<em>Intermezzo<\/em> in November 2011, the company continued to the next drug in its pipeline, a treatment for obsessive compulsive disorder called\u00a0<em>TO-2061<\/em>.<\/p>\n<p>Top-line results of <em>TO-2061&#8217;s<\/em>\u00a0FDA Phase II study are expected in the first quarter of 2013. The study has enrolled 168 patients.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When Transcept Pharmaceuticals (NASDAQ: TSPT) received FDA approval for its four-hour sleeping pill, Intermezzo, its stock was trading as high as $12.99 per share. Today, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[261,264,4],"tags":[408],"stock_ticker":[],"class_list":["post-3156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-decliners","category-health","category-nasdaq-high-profiles","tag-tspt","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A -59% Return Since Transcept&#039;s FDA Approval - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/a-59-return-since-transcepts-fda-approval-3156\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A -59% Return Since Transcept&#039;s FDA Approval - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"When Transcept Pharmaceuticals (NASDAQ: TSPT) received FDA approval for its four-hour sleeping pill, Intermezzo, its stock was trading as high as $12.99 per share. 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