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Stock of biotech Amylin Pharmaceuticals plummeted 10.28 percent today (April 21) as the company reported weak sales of its franchise diabetes drug Byetta. In its first quarter, the company lost $68.8 million or 51 cents a share, compared with a loss of $49.4 million or 38 cents a share in the same quarter a year earlier. Analysts were extremely disappointed, since Byetta is Amylin's big seller and future hope. The stock finished the day down $3.23 at $28.18. Among lower-priced stocks, software producer Imageware Systems plunged 27.07 percent to 90 cents. Right after the close, the reason for the drop was not immediately clear.

Comments
4

Don,

Did you see 60 Minutes Sunday? They reported on a surgery (similar to gastric bypass) that they say cures diabetes. Very interesting, and perhaps also relevant to the drop of Amylin...

April 22, 2008

Response to post 1: I did not see the show. This could have something to do with the sales problems of Byetta. However, I didn't see that mentioned as I went over material to post this blog. Best, Don Bauder

April 22, 2008

Did you see 60 Minutes Sunday? They reported on a surgery (similar to gastric bypass).....

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It was not similar to gastric bypass, it was gastric bypass...

April 22, 2008

Response to post #3: At 9:14 a.m. Pacific time, Amylin stock is down another 2.27 percent, or 64 cents, to $27.54. Best, Don Bauder

April 22, 2008

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