InterMune, Inc. focuses on the research, development, and
commercialization of therapies for pulmonology and orphan fibrotic
diseases in North America and Europe. The company develops therapies for
the treatment of idiopathic pulmonary fibrosis (IPF), a progressive,
irreversible, and fatal lung disease. It markets and sells pirfenidone,
an orally active, anti-fibrotic agent that inhibits the synthesis of
TGF-beta and TNF-alpha under the Esbriet name for the treatment of
adults with mild to moderate IPF in the European Union and Canada. The
company’s pirfenidone has also completed three Phase III clinical trials
for the treatment of IPF in the United States. The company provides
pirfenidone under the Pirespa trade name for the treatment of IPF in
Japan and South Korea; and is also approved for the treatment of IPF in
China, India, Argentina, and Mexico. Its research programs are focused
on the discovery of targeted, small-molecule therapeutics and biomarkers
to treat and monitor serious pulmonary and fibrotic diseases.
Review the 1-year chart of InterMune (Nasdaq: ITMN) with the added notations:
ITMN has been trading sideways since the beginning of June while.
During that period of time, the stock has formed a $47.50 resistance
(red) and a $40 support (blue). A break above $47.50 would also be a
new 52-week high.
The Tale of the Tape: ITMN has formed a clear
52-week high resistance at $47.50. The possible long positions on the
stock would be either on a pullback to $40, or on a breakout above
$47.50. The ideal short opportunity would be on a break below the $40
level.
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