Connetics connects the dots

Since a Phase III failure in 2000 sent its stock plummeting 75%, Connetics Corp. has rebuilt itself, not long ago flirting with a $1 billion market cap with a portfolio of reformulated dermatology products. Despite receiving a not approvable letter last month for its Extina ketoconazole anti-fungal compound, the company still will end its first full year of profitability a year ahead of schedule.

CNCT, now valued at about $768.8 million, believes that rigorous development benchmarks and its recently expanded drug delivery platform will provide insulation from the setback, as will continued news flow from a product launch, regulatory events and a refilled pipeline that includes new chemical entities.

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