DepoMed Not Killing Hot Flashes (DEPO)

Posted in pre-market 
October 12th, 2009

DepoMed Inc. (NASDAQ: DEPO) is getting slaughtered on news that mixed Phase III clinical data for its menopausal hot-flash treatment Serada was a disappointment. The study for hot flashes drug met only 1 goal at 12 weeks.  Despite the results, Depomed remains hopeful about the program and said it plans to discuss these results with the FDA.  Traders are shooting first and will ask questions later.  As of 8:30 AM EST we have some 341,000 shares traded and this one is down some 32% at $4.31.  The 52-week trading range is $1.01 to $6.40 and the average volume is only 450,000 shares.  This will likely be an exponential volume mover early today.  JON C. OGG

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