Anacor Pharmaceuticals, Inc. focuses on discovering, developing, and
commercializing novel small-molecule therapeutics derived from its boron
chemistry platform. The company’s lead product candidates include
tavaborole, an antifungal product candidate that is in Phase III
clinical development for the treatment of onychomycosis; and AN2728, an
anti-inflammatory product candidate, which completed Phase II clinical
trials for the treatment of atopic dermatitis and psoriasis, and chronic
inflammatory skin diseases. It also develops AN5568, a Phase I human
clinical trial product targeting human African trypanosomiasis. The
company’s clinical pipeline also includes AN2718, a topical antifungal
product candidate, which is in Phase I clinical trials for the treatment
of onychomycosis and fungal infections of the skin; AN2898, a topical
anti-inflammatory product candidate that completed Phase IIa clinical
trials for the treatment of atopic dermatitis and psoriasis; and AN3365,
an antibiotic for the treatment of infections caused by Gram-negative
bacteria. It has research, development, and collaboration agreements
with GlaxoSmithKline LLC, Eli Lilly and Company, Schering Corporation,
Medicis Pharmaceutical Corporation, Bill and Melinda Gates Foundation,
and Medicines for Malaria Ventures.
To review Anacor’s stock, please take a look at the 1-year chart of
ANAC (Anacor Pharmaceuticals, Inc.) below with my added notations:
After forming a clear double top (green), ANAC confirmed that pattern
when it broke below the $16 (blue) support. The expectation would have
been for a bigger fall than just down to $14, but now the stock has
broken back above $16. Higher prices should follow, most likely a run
back up to at least the $18 (red) resistance.
The Tale of the Tape: ANAC is back above $16. A long
trade could be made on a pullback to $16 with a stop loss placed under
that level. A break back below $16 would be an opportunity to get short
the stock.
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