Here comes an article I found in the WSJ Briefing Book.
June 11, 1996
Neuroinvestment Reiterates Cephalon Recommendation
RYE, N.H., June 11 /PRNewswire/ -- NeuroInvestment today reiterated its
recent recommendation of Cephalon (Nasdaq: CEPH) in light of the
ambiguity surrounding last Friday's FDA Advisory Committee meeting on
Cephalon's drug Myotrophin. The Editor of NeuroInvestment, Harry M.
Tracy Ph.D., noted that the market has overreacted to concerns that the
FDA might not approve Myotrophin's NDA without first requiring another
Phase III trial. "The FDA will not ignore a unanimous Advisory Committee
recommendation, and thus the Treatment IND will be granted. Once
granted, the fact that there will then be two available treatments for
ALS will make another Phase III trial ethically and pragmatically
impossible. ALS patients are not going to volunteer to be guinea pigs
and risk receiving only a placebo when the US Phase III trials have
established that Myotrophin has a modest positive impact on the
progression of the disease, and the Treatment IND approval means that
there is no real concern regarding safety. So long as Cephalon exercises
diplomatic discretion in dealing with the FDA, and does not provoke the
Agency into feeling that it is being treated as if its concerns are
irrelevant, the outcome by the end of 1996 will be an approved NDA,
along with the requirement of a post-marketing Phase IV trial comparing
Myotrophin and Rilutek in various combinations. Cephalon has been
seriously oversold, the year-end target price continues to be 50."
Through the first five months of 1996, the companies that
NeuroInvestment has recommended have displayed an average gain of 67.3%.
Since NeuroInvestment began publishing its Recommendation List in July
1995, its recommendations have appreciated an average of 229%.
NeuroInvestment is edited by Dr. Harry M. Tracy, a clinical and
neuropsychologist practicing in Portsmouth, N.H. His background in
neurological/psychiatric disorders and neuropharmacology is used to
analyze underserved patient populations and the most promising companies
developing treatments for those conditions.
A one-year subscription to the newsletter is $295, a two-year
subscription is $550. A 3-month trial subscription is $90.
NeuroInvestment can be reached at P.O. Box 458, Rye, N.H. 03870. The
phone number is 603-964-9640, and the E-Mail address is
neuroinvestment@nh.ultranet.com.
Founded in 1995, Neuroscience Stock Reports, Inc. of Rye, NH is a
leading publisher of research information regarding emerging companies
specializing in the treatment of neurological disorders.
/CONTACT: Dr. Harry M. Tracy, Editor of NeuroInvestment, 603-964-9640,
or fax, 603-964-7561/
11:08 EDT
Copyright \051 1996 Dow Jones & Company, Inc. All Rights Reserved.
/K.H. |
