Company Update (NASDAQ:BIOD): Biodel Inc to Present Data on Concentrated Ultra-Rapid-Acting/Basal Insulin and Glucagon at the 75th American Diabetes Association Scientific Sessions
Biodel Inc (NASDAQ:BIOD) will present data from human and animal studies with its ultra-rapid-acting/basal insulin and glucagon product candidates during the 75th Scientific Sessions of the American Diabetes Association being held at the Boston Convention and Exhibition Center in Boston, Massachusetts from June 5 – 9, 2015.
Dr. Alan Krasner, Biodel’s Chief Medical Officer, stated: “We are pleased to report the results from two clinical studies demonstrating the superior prandial glucose control that can be achieved with subcutaneous injection of BIOD-531 vs. marketed prandial/basal insulins in two distinct population of patients with type 2 diabetes. The pharmacokinetic and pharmacodynamic profiles of BIOD-531 when delivered by insulin pump bolus appear to be distinct from the profiles when given by injection in the diabetic swine model. These data and the results of a pilot clinical trial showing similarity ofBiodel’s lyophilized glucagon formulation to marketed glucagon formulations will be presented.” (Original Source)
Shares of Biodel Inc. closed today at $1.10. BIOD has a 1-year high of $2.51 and a 1-year low of $0.99. The stock’s 50-day moving average is $1.14 and its 200-day moving average is $1.34.
On the ratings front, Biodel has been the subject of a number of recent research reports. In a report issued on May 21, Roth Capital analyst Elemer Piros maintained a Buy rating on BIOD, with a price target of $5, which represents a potential upside of 354.5% from where the stock is currently trading. Separately, on April 6, Wedbush’s Liana Moussatos maintained a Hold rating on the stock and has a price target of $2.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Elemer Piros and Liana Moussatos have a total average return of -4.4% and 38.0% respectively. Piros has a success rate of 55.6% and is ranked #3014 out of 3610 analysts, while Moussatos has a success rate of 53.4% and is ranked #25.
Biodel Inc is a specialty biopharmaceutical company. The Company is focused on the development and commercialization of treatments for diabetes patients..