Taking a step-back from the normal biotech names, let’s look at Capstone Therapeutics. How would you like to buy a $1.14 for $0.38 cents? Buying shares of Capstone Therapeutics (CAPS) would not only give you a $1.14 for $0.38 cents, but also access to five of Capstones proprietary drugs, two of which are in phase II testing, and three of which are still in pre-clinical studies. Capstone Therapeutics is a small biotech company with a market capitalization of just $15.48 million dollars, $47 million dollars in cash sitting in the bank, which equates roughly to $1.14 in cash per share, and no debt on its balance sheet. With a market capitalization of $15.48 million dollars and $46.48 million in cash sitting in the bank, Capstone Therapeutics is trading $0.76 cents, or roughly 300% below its own cash in the bank on a per share basis. Since March 7th 2007, Directors, Officers and other filing entities of Capstone Therapeutics have bought 1,461,721 shares in the public market at an average price of $0.74 cents per share. According to Capstones website, Capstone is a biotechnology company committed to developing a pipeline of novel therapeutics peptides, or amino acids, aimed at helping patients with underserved medical conditions. The company is focused on development and commercialization of two product platforms: AZX100 and Chrysalin. AZX100 is a novel 24-amino acid peptide, one of a new class of compounds in the field of smooth muscle relaxation and fibrosis. AZX100 successfully finished phase 1a studies with 30 subject patients, and successfully finished phase 1b studies with 40 subject patients, with both studies meeting their safety and primary endpoint goals. Currently Capstone is evaluating commercial use of AZX100 for the treatment of pulmonary disease, the prevention of hypertrophic and keloid tissue scarring, and intimal hyperplasia. The commercial potential for AZX100 for keloid tissue scarring alone is north of 21 million patients. AZX100 Phase II testing was initiated in the first quarter of 2009 with a sample size of 150 subjects specifically focused on scares resulting from biopsies. Interim data is due late 2009, with a twelve-month follow-up thereafter. Chrysalin is Capstone’s 23-amino acid peptide, which has also been proven in multiple pre-clinical and Phase 1a and Phase 1b clinical testing to stimulate cellular growth in musculoskeletal tissue. Capstone owns exclusive rights worldwide to both AZX100 and Chrysalin Capstone is also in the early preclinical studies of three other peptides, Asthma in which early data has indicated positive effects in certain models, Pulmonary Fibrosis which Capstone is currently developing a second model to test, and Hyperplasia in which early data has demonstrated effectiveness. Capstone has a cash-burn rate of less than $2 million dollars per quarter, meaning that the company will be well-funded on a standalone basis for at least the next two years. Capstones largest shareholder is BVF Inc. a well known biotech fund, who currently owns 9.92% of total Capstone shares outstanding. With so many opportunities to win, you can bank on the following with Capstone Therapeutics: 1) Capstone Therapeutics is trading $0.76 cents, or roughly 300% below its own cash in the bank on a per share basis. 2) Since March 7th 2007 Insiders have bought back 1,461,721 shares at an average price of $0.74 cents per share. 3) AZX100 has shown clinical effectiveness in Phase 1a and 1b testing, and is in the process of Phase II testing. 4) Chrysalin has also shown clinical effectiveness. The opportunity to buy $1.14 for $0.38 cents does not last long in the market place.

Dendreon’s (DNDN) binary data announcement on its key drug Provenge in early April

Genentech’s (DNA) update on various uses for Avastin late April.

Positive trading action in AMGN for the year

Meger between Pfizer (PFE) and Wyeth (WYE)

According to Bloomberg: Biogen Idec Inc. is in talks to buy Acorda Therapeutics Inc. to gain an experimental pill for patients with multiple sclerosis, people familiar with the discussions said. Acorda shares surged 19 percent, the most since June 2, when the company said its lead experimental drug, Fampridine, helped MS patients walk. Biogen, the world’s largest maker of medicines for multiple sclerosis, is also talking about buying rights to market Fampridine, the people said. The pill may be cleared for U.S. sale this year.

Meger between Pfizer (PFE) and Wyeth (WYE)

Positive trading action in CELG the for year