Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Protalix BioTherapeutics
So what: The FDA extended its goal date for approving taliglucerase alfa (say that ten times fast) by three months to May 1 of next year. The delay didn't come with a request for more data, but the market thought it was the end of the world in early trading, an overreaction that has corrected slightly as trading continued today.
Now what: The delay doesn't seem to indicate anything is wrong with the treatment for Gaucher disease, but it's not a great sign. This will push back potential cash flows from the treatment, which makes the treatment less valuable in present value terms. But the sell-off was a bit overdone this morning, and if you're looking to get into shares, I see this as a great opportunity to buy.
Interested in more info on Protalix BioTherapeutics? Add it to your watchlist by clicking here.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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