) shares are up 4.13% following the company's first quarter of
fiscal 2014 (ending Dec 2013) earnings report. Biodel reported a
loss of 12 cents per share, narrower than the year-ago loss of 26
cents and the Zacks Consensus Estimate of a loss of 19 cents per
Biodel did not generate any revenues in the reported quarter and
also in the year-ago comparable quarter.
Quarter in Details
Research and development (R&D) expenses decreased 21.3% to
$3.7 million because the decline represented the completion of
the phase II study on BIOD-123.
General and administrative expenses remained flat at $1.4
Biodel finished dosing patients in the phase I study (3-150)
being conducted on lead candidate BIOD-531. The study is
comparing BIOD-531 to Eli Lilly's (LLY) Humulin R U-500 and
Humalog Mix 75/25. Topline results are expected later this month.
Meanwhile, Biodel is progressing with the development of the
EZMix GEM program for the rescue treatment of severe
hyperglycemia. The company intends to complete a dose-ranging
study so that a toxicology study can commence and file an
Investigational New Drug (IND) application in the third quarter
of calendar 2014. Pivotal studies should commence in the fourth
quarter of calendar 2014. Biodel intends to file an NDA for GEM
Biodel carries a Zacks Rank #2 (Buy). We expect investor focus to
remain on pipeline updates.
Some better-ranked stocks in the same sector include
Forest Laboratories Inc.
), with both carrying a Zacks Rank #1 (Strong Buy).
BIODEL INC (BIOD): Free Stock Analysis Report
ENDOCYTE INC (ECYT): Free Stock Analysis
FOREST LABS A (FRX): Free Stock Analysis
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