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Benzinga Value Investor Gave Subscribers a 40% Gain on Transcept Pharmaceuticals


Transcept Pharmaceuticals gained over 40% today when the company announced that it will resubmit its sleep drug, Intermezzo, to the FDA. The FDA permitted Transcept's plan to alter dosage and approved its safety.

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On July 13th, Transcept Pharmaceuticals (NASDAQ: TSPT) tumbled over 70% after the FDA rejected its insomnia drug, Intermezzo. On August 3rd and 4th, Benzinga Value Investor made an entry into Transcept. The reason being, the company was trading below its cash value and knew Transcept would eventually resubmit its insomnia drug to the FDA.

On September 14, the company announced its plan to resubmit Intermezzo new drug application. Transcept did not plan to conduct additional studies prior to resubmission, which saved it millions of dollars.

Benzinga Value Investor exited the position for a 40% gain! Shares of Transcept continued to rocket 50% more throughout the day, potentially doubling the position! This proves that value investors put themselves in situations to succeed and even make great profits while trading with less-than-ideal entries and exits.

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