GO
Loading...

DNA's D-Day

Thursday, 21 Feb 2008 | 7:25 PM ET

The FDA is expected to decide on Friday whether Genentech's blockbuster cancer drug Avastin can be approved for broader use. While the odds are low, Guy Adami is betting with DNA.

Tomorrow's Trades #3
FDA decision expected tomorrow on broader use for Genentech's Avastin, with the Fast Money traders.

The decision on whether Avastin can be treated for late-stage breast cancer to improve quality of life for patients (not lifespan) could spell huge upside for Genentech, according to Guy.



He puts the odds at 30-35% that the drug gets FDA approval but if it does he sees up to $7 immediate upside for the stock.

And if the FDA doesn’t approve the drug for new uses or postpones the decision, Guy predicts a downside of only $2-3 for the stock given its current level. It’s a tough call, but he would roll the dice and buy DNA Friday.

Read More:

______________________________________________________
Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On Feb.21, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (YHOO); Seymour Owns (AAPL), (CSCO), (F), (MSFT), (S), (TSO), (SBUX), Seygem Asset Management Owns (CCJ), (TIE), (GAF) Seygem Asset Management Is Short (EEM); Finerman’s Firm is Short (IYR), (IJR), (SPY), (MDY), (IWM), (LEH) and Owns (LEH) Puts; Finerman’s Firm Owns (VLO), (TSO), (MSFT), (KSS), (JCP), (AAPL), (TSO), (VLO), (YHOO), (WMT), (MO), (AEO); Finerman Owns (GS); Dennis Gartman Owns (CIM), (COIN), (PRB), (SID), (PAL), (UNG), Gold, (UUP), (SWC), (HOV), (GWR), (GMO); Gartman is Short (SDS), (COH), (HOG), (RTH), (MMM), (GM), (DCR), (AAPL), (DRYS), CIBC; Gartman Index Owns Gold, the EUR, the Canadian Dollar, Sugar

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report