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This Week's Watchlist 10/18/10

publication date: Oct 17, 2010
The biotech community finally received some positive news last week with the FDA approval of QCOR's Acthar and ALKS' Vivitrol.  We are hoping this trend can continue this week as ISTA announced on Saturday FDA approval for its drug XiDay.  Lets take a look at the stocks to watch this week:
ISTA - ISTA announced on Saturday that it had received FDA approval for BROMDAY 9formerly known as XiDay).  BioRunUp subscribers were immediately notified via SMS text alert on Saturday. Shares of ISTA has already doubled since July so we expect a brief spike in share price followed by increased selling pressure.  For great examples of what happens when FDA approval is expected and its effects of share price, take a look at ALKS and QCOR this week (more on that later).
EXAS - Last week Exact Sciences was propelled over $9 by a mention from Jim Cramer.  It continues its amazing run from our recommendation in the $3 range just a few weeks ago.  I have begun to sell small blocks of my shares of EXAS, as I have decided against holding my entire position through the much anticipated data release on October 29th (more on that later). 
BIOD - Shares of Biodel have lost momentum as we near its PDUFA date of 10/30.  It seems that consumer setiment is that Biodel will receive a CRL and this is limiting the run-up.  Is it time to sell?  I do not believe so, as BIOD has continually demonstrated that it can move fast, and at this point the downside is limited.
AVNR - Avanir has remained relatively uneventful over the past two weeks.  However, trader sentiment is positive regarding FDA approval, and I expect this to cause share of AVNR to climb before its PDUFA date of 10/30.