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Biotech / Medical : Panacos Pharmaceuticals (PANC)
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To: tuck who wrote (10)10/26/2006 4:59:42 PM
From: dr.praveen   of 53
 
Recent Business Highlights:

• The Company continued to advance its Phase 2b study of bevirimat (PA-457) in treatment-experienced patients failing current therapy in combination with approved HIV drugs. The goal of the study is to select the most appropriate dose(s) to take into pivotal Phase 3 trials.
• The Company recently released the results of a preclinical study that indicates bevirimat is non-teratogenic, meaning it did not cause fetal malformations in the models used in this study. These results suggest that bevirimat may not be teratogenic when used to treat HIV-infected pregnant women.
• The Company also presented an update on its HIV fusion inhibitor program at the XVI International AIDS Conference in Toronto, indicating that the Panacos compounds have very high potency and a unique molecular target within the viral surface proteins, distinct from the currently-marketed HIV fusion inhibitor FUZEON.
• The Company announced the addition of Dr. Laurent Fischer, M.D., to the Company's Board of Directors. Dr. Fischer, currently the President and CEO of Ocera Therapeutics, Inc., has extensive experience in developing and commercializing HIV drugs both at Dupont Pharmaceuticals and at Hoffmann LaRoche.

"In the third quarter, Panacos made continued progress in our bevirimat development program and our pipeline programs," commented Peyton J. Marshall, CFO and Acting CEO of Panacos. "The Phase 2b trial is clearly a major step in bevirimat's development, and we expect initial data for the first cohort before year-end and data from subsequent cohorts in the following quarters."
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