Essential Therapeutics (ETRX) formerly Microcide (MCDE Message Board

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Biotech / Medical : Essential Therapeutics (ETRX) formerly Microcide (MCDE

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To: jackie who wrote (160)	9/5/1998 7:14:00 PM
From: John O'Neill	Read Replies (1) of 415

WTDEC and Jack.... The company does appear to manage it's money well and not make speculative assumptions. They realize their need to get drugs into clinical trial for investors to take notice. They seem to have a long term thinking approach. The most immediate news would be the partnering with a company for fungal targets. The antibiotic with J&J will be the first in clinical trials as long as J&J gives the green light. It has proven very effective, so the issue is toxicity. If all goes right they would be receiving a milestone payment at start of clinical trials (early 1999). This ABX is a variant on drugs that MD's are used to prescribing (Cephalosporins) and would be quickly accepted by the medical community. I think the company see's their strongest relationship with Pfizer, however, where they are working on developing an entirely new type of antibiotic. They are screening compounds in mass to find active chemical structures. Eventually they will settle on the most promising target and develop it. This is long range, but a new class of ABX is really needed at the rate bacteria are becoming immune to the variations of existing ABX I think the J&J deal calls for J&J to produce and sell the product with MCDE getting 6-10% range (fairly standard for bankrolling for a effort for no drug in clinical trials)....This could set well with MCDE's 11 mil shares outstanding and no need for dilution on the horizon. Let's pull for good toxicity results..so far so good..I don't believe the current stock price has anything to do with negative developments. Good luck.......This is a speculative one..stock price seems attractive though... JO

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