Biodel, Inc. (BIOD) Reports First-Quarter Results In Line With Estimates
February 05, 2010 1:17 PM
Analyst Pamela Basset at Cantor Fitzgerald has released an update on Biodel, Inc. (NASDAQ: BIOD). The company reported results for the first-quarter yesterday, which came in line with Cantor Fitzgerald’s estimates.
Biodel reported EPS of $0.47 for the quarter, in line with Cantor’s estimate of $0.46. The management has submitted the VIAject NDA for Type 1 and Type 2 diabetes under 505(b)2 at the end of 2009 for approval. Cantor expects FDA acceptance by early March, and PDUFA date in the fourth quarter of 2010.
The company is actively preparing for a comprehensive launch plan. According to Cantor Fitzgerald, the pipeline expansion at Biodel is compelling, and positions the company to pursue broader partnering opportunities. Biodel Inc. continues to maintain a Buy rating.
