INSYS Therapeutics, Inc. INSY
This morning we kick off the holiday shortened week, during a time of year that typically sees subdued activity for the markets as a whole, as people spend time with their families, and stay busy with holiday festivities.
We still strive to identify possible opportunities even in this environment, and the first thing to hit our scanner this morning was INSY. INSYS Therapeutics recently initiated Phase II trials of its synthetic Cannabidiol (CBD) Oral Solution for Treatment of Refractory Childhood Absence Epilepsy.
The FDA, we’re learning today, has also granted Fast Track status to INSY for the ‘drug’ for the treatment of Prader-Willi syndrome, a rare and complex genetic disorder. (View PR)
The stock registered its 52-week lows at the beginning of last month, and has been in a general uptrend since, but we’ll be looking for further bullish activity on the heels of this FDA news, both on the stock chart, and in the options chain as a secondary idea. For that, we’ll look to the INSY 01/19 $8 & $9 Calls for opportunities.
DelMar Pharmaceuticals, Inc. DMPI
Speaking of FDA Fast Track designations, we’re looking to DMPI this morning as well, which was granted the status by the FDA for its lead-product cancer treatment, VAL-083.
The chart itself was already set up as a possible bottom play, and despite gapping up considerably on this morning’s news, there is still room to the upside, including a sizable gap that’s been left on the chart since this past spring, the eventual filling of which would spell gains of more than 100% from the current PPS.
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