Pharmasset, Inc. (Public, NASDAQ:VRUS)

[Michael Scally MD]

Pharmasset, Inc. (Public, NASDAQ:VRUS) http://www.pharmasset.com/
IR: Pharmasset, Inc. - Investor Relations

GF: Pharmasset, Inc.: NASDAQ:VRUS quotes & news - Google Finance /
YF: VRUS: Summary for Pharmasset, Inc.- Yahoo! Finance
SA: Pharmasset, Inc. (VRUS) Stock - Seeking Alpha

SEC: EDGAR Search Results


VRUS is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. Their primary focus is on the development of oral therapeutics for the treatment of hepatitis C virus (“HCV”). They currently have three product candidates and a series of preclinical candidates nearing preparation for clinical development:

RG7128, a pro-drug of PSI-6130 for the treatment of HCV, is entering a phase 2b clinical trial through a collaboration with Roche;

PSI-7977, an isomer of PSI-7851 is a nucleotide analog for the treatment of HCV, and is currently in a phase 2b trial;

PSI-352938 (PSI-938), a purine nucleotide analog for the treatment of HCV, recently completed a phase 1 trial.

 

[Michael Scally MD]

Canaccord Genuity Growth Conference - Aug 11, 2011: Pharmasset, Inc. - Events & Presentations


Pharmasset Announces Two-for-One Forward Stock Split
Pharmasset Announces Two-for-One Forward Stock Split (NASDAQ:VRUS)

PRINCETON, N.J., Aug. 9, 2011 /PRNewswire/ -- Pharmasset, Inc. (Nasdaq: VRUS) announces that its Board of Directors declared a two-for-one split of Pharmasset's common stock, par value $0.001 per share, in the form of a 100% common stock dividend. Stockholders of record as of the close of business on August 22, 2011 will receive one additional share of common stock for each share then owned. The distribution date for the new shares will be August 31, 2011. There are currently approximately 37.7 million shares of common stock outstanding. Upon completion of the stock split, there will be approximately 75.4 million shares of common stock outstanding.

 

[CubbieBlue]

Canaccord Genuity Growth Conference - Aug 11, 2011: Pharmasset, Inc. - Events & Presentations


Pharmasset Announces Two-for-One Forward Stock Split
Pharmasset Announces Two-for-One Forward Stock Split (NASDAQ:VRUS)

PRINCETON, N.J., Aug. 9, 2011 /PRNewswire/ -- Pharmasset, Inc. (Nasdaq: VRUS) announces that its Board of Directors declared a two-for-one split of Pharmasset's common stock, par value $0.001 per share, in the form of a 100% common stock dividend. Stockholders of record as of the close of business on August 22, 2011 will receive one additional share of common stock for each share then owned. The distribution date for the new shares will be August 31, 2011. There are currently approximately 37.7 million shares of common stock outstanding. Upon completion of the stock split, there will be approximately 75.4 million shares of common stock outstanding.

Can someone explain to me why exactly companies decide to split their stock? What benefit does it have for the company? For the shareholders?

Edit (this makes sense...from Investopedia):
A stock split is usually done by companies that have seen their share price increase to levels that are either too high or are beyond the price levels of similar companies in their sector. The primary motive is to make shares seem more affordable to small investors even though the underlying value of the company has not changed.

 

[Michael Scally MD]

PSI-938 Receives Fast Track Designation from the FDA for the Treatment of Chronic Hepatitis C Infection
PSI-938 Receives Fast Track Designation from the FDA for the Treatment of Chronic Hepatitis C Infection (NASDAQ:VRUS)

PRINCETON, N.J., Aug. 24, 2011 /PRNewswire/ -- Pharmasset, Inc. (Nasdaq: VRUS) has received fast track designation from the U.S. Food and Drug Administration (FDA) for PSI-938 for the treatment of chronic hepatitis C virus (HCV) infection. PSI-938 is an oral guanosine nucleotide analog polymerase inhibitor of HCV.

In March 2011, Pharmasset presented data from the NUCLEAR study demonstrating that PSI-938 has potent antiviral activity and is generally safe and well tolerated, both as monotherapy and in combination with Pharmasset's lead nucleotide analog, PSI-7977. The NUCLEAR study was conducted in treatment naive subjects with genotype 1 HCV who were treated for 14 days with either PSI-938 or a combination of PSI-938 and PSI-7977 with 92% achieving HCV RNA <15IU/mL, the limit of detection, in the combination arms. Pharmasset plans to initiate QUANTUM, an interferon-free combination trial with PSI-938 and PSI-7977 in the third quarter of 2011.

Under the FDA Modernization Act of 1997, fast track designation may facilitate the development and expedite the review of a drug candidate that is intended for the treatment of a serious and life-threatening condition and demonstrates the potential to address an unmet medical need for such a condition. PSI-938 was granted the fast track designation primarily due to the need for HCV treatments with improved tolerability, safety and efficacy over the existing standard of care for both treatment-naive and treatment-experienced patients.

 

[CubbieBlue]

Seems like a good day in the markets so far today. VRUS is doing well.

 

[Michael Scally MD]

The 2:1 split became effective today. Actually, I would like to see a pullback on the pps so I could load up more.

 

[CubbieBlue]

The 2:1 split became effective today. Actually, I would like to see a pullback on the pps so I could load up more.

PPS?

I was just going to post here and ask - WTF HAPPENED?!?

I own 125 share on Investopedia and it just cut my price in half - hasn't issued me double the shares yet. Hopefully it does.

 

[Michael Scally MD]

PPS?

I was just going to post here and ask - WTF HAPPENED?!?

I own 125 share on Investopedia and it just cut my price in half - hasn't issued me double the shares yet. Hopefully it does.

It probably will not. You will have to make the adjustment manually.

 

[CubbieBlue]

It probably will not. You will have to make the adjustment manually.

From Investopedia help:
Stock splits will adjust your number of shares owned and book price. For example, in a 2 for 1 split you should receive double the shares and see your purchase price be reduced by one half.

Haven't received the shares yet. I guess it just will take some time..

 

[Michael Scally MD]

PPS?

I was just going to post here and ask - WTF HAPPENED?!?

I own 125 share on Investopedia and it just cut my price in half - hasn't issued me double the shares yet. Hopefully it does.

What price did you buy the shares?

Even on a down day, VRUS is UP!!!

 

[CubbieBlue]

What price did you buy the shares?

Even on a down day, VRUS is UP!!!

107.91

I'm pissed off because it still hasn't adjusted for the split, and I don't think it is going to. It's only play money, but still, that's fucking lame.

 

[Michael Scally MD]

107.91

I'm pissed off because it still hasn't adjusted for the split, and I don't think it is going to. It's only play money, but still, that's fucking lame.

You will have to manually make the change.

 

[Michael Scally MD]

VRUS is UP 4+% in PM!!!

Pharmasset Announces 91% SVR12 From the PROTON Trial in Subjects With Hepatitis C Genotype 1
- Intent to-treat SVR12 of 91% (43 of 47) following a 24-week treatment regimen incorporating 12 weeks of PSI-7977 400 mg QD
Pharmasset Announces 91% SVR12 From the PROTON Trial in Subjects With Hepatitis C Genotype 1 (NASDAQ:VRUS)

PRINCETON, N.J., Sept. 6, 2011 /PRNewswire/ -- Pharmasset, Inc. (Nasdaq: VRUS), announced today sustained virologic response (SVR) results from its phase 2b PROTON study with PSI-7977 400 mg dosed once daily in combination with peginterferon alfa 2a and ribavirin (Peg-IFN/RBV) in subjects with hepatitis C virus (HCV) genotype 1 who have not been treated previously. 43 out of 44 (98%) evaluable subjects achieved an SVR12, defined as HCV RNA below the limit of detection.

Ninety five treatment-naive patients with HCV genotype 1 were enrolled into two open-label arms of the PROTON trial, receiving either PSI-7977 200 mg QD (N=48) or 400 mg QD (N=47) for 12 weeks. Individuals in both arms received Peg-IFN/RBV for 24 weeks and were followed post-treatment to assess SVR12. Twenty-six subjects were enrolled in a placebo control arm and are receiving 48 weeks of Peg-IFN/RBV. Results from this study through the SVR12 endpoint are scheduled to be presented as part of a Presidential Plenary Session at the American Association for the Study of Liver Diseases (AASLD) meeting on Tuesday, November 8, 2011.

"I am very pleased with the results of this study which clearly demonstrate the benefit of the 400 mg dose of PSI-7977 with only 24 weeks of interferon for all subjects," stated Dr. Eric Lawitz, the study's principal investigator. "HCV therapy is becoming overly complex, and the elimination of 24 weeks of interferon and ribavirin as well as all response guided criteria for patients with HCV genotype 1 would be a welcomed simplification."

At the European Association for the Study of the Liver (EASL) in April 2011, Dr. David Nelson presented interim results from the PROTON trial showing that 43 out of 47 subjects receiving the 400 mg dose of PSI-7977 achieved an eRVR, defined as HCV RNA below the limit of detection.

 

[CubbieBlue]

You will have to manually make the change.

It did eventually adjust.

Total gain: $3k since I bought.

 

[Michael Scally MD]

It did eventually adjust.

Total gain: $3k since I bought.

What %? That is the more important valuation. Also, compare to the S&P 500.

 

[CubbieBlue]

What %? That is the more important valuation. Also, compare to the S&P 500.

7.87% gain.

My comparison to the S&P is a little skewed now because I have a bunch of other stuff in my portfolio...some of it doing poorly as of this morning.

 

[Michael Scally MD]

7.87% gain.

My comparison to the S&P is a little skewed now because I have a bunch of other stuff in my portfolio...some of it doing poorly as of this morning.

VRUS keeps going UP.

 

[CubbieBlue]

VRUS keeps going UP.

I know. Do you intend to pull the trigger anytime soon or ride it out long term?

 

[Michael Scally MD]

Prior to June 1, 2011, Pharmasset, Inc. submitted four abstracts to the American Association for the Study of Liver Diseases (“ AASLD ”) which summarize new data on PSI-7977 to be presented at their annual meeting in San Francisco which starts November 4, 2011 As previously disclosed, on August 2, 2011, the AASLD posted the titles of such abstracts on its website. On September 30, 2011, the AASLD released such abstracts to the public by posting them on its website. Pharmasset, Inc. - Current Report / http://files.shareholder.com/downloads/VRUS/1348352315x6403633xS1193125-11-260840/1301081/filing.pdf

The four abstracts are:

• Once Daily PSI-7977 plus RBV: Pegylated interferon-ALFA not required for Complete Rapid viral response in Treatment-naïve Patients with HCV GT2 or GT3


• Once-Daily PSI-7977 Plus Peg/RBV in Treatment-naïve Patients with HCV GT1: Robust End of Treatment Response Rates are Sustained Post-treatment


• Lack of Effect of the Nucleotide Analog Polymerase Inhibitor PSI-7977 on Methadone Pharmacokinetics and Pharmacodynamics


• PSI-7977 Has No Effect on QTcF Intervals at Therapeutic or Supratherapeutic Doses

 

[Michael Scally MD]

UP, UP, UP!!!

https://twitter.com/#!/adamfeuerstein/status/123403650256207872