October 29, 2004
SpeculatingStocks.com Stock Pick: Biomira, Inc. (BIOM)
Stock Price: $1.40 (long-term strong buy)
Biomira, Inc. is a biotechnology company specializing in the development of innovative therapeutic approaches to cancer management. This includes the development of synthetic vaccines and strategies for cancer immunotherapy.
The company was recently granted Fast Track status by the FDA for its lung cancer vaccine BLP25 Liposome. Basically, the Fast Track program allows for the company to speed up FDA comments on its vaccine because it can send data in pieces as available instead of waiting to send data all at once.
BIOM jumped from $1.16 to a high of $1.74 during the day Fast Track status was announced. We believe as this vaccine progresses, so will BIOM shares. Shares have begun to bounce again after dropping to as low as $1.24, post-news low.
SpeculatingStocks.com Target Price: We see BIOM hitting $2.50 within the next 2-4 months.