On a slightly positive note, here is an exerpt from a recent Cowen & Company report:
While our overall universe continues to lag the market, the recent rally in cancer-related stocks demonstrates the wide investment appeal of potential breakthrough products, even at early stages of development. In this report, we highlight cancer research under way at companies in our core universe, including strong buy-rated Isis Pharmaceuticals, Pharmacyclics and Vical. With over 300 products in clinical trials or awaiting approval, the biotechnology sector represents an increasingly important source of new treatments for many serious diseases. We expect key approvals in 1998 for strong buy-rated BioChem Pharma (BCHE $26), Ergo Science (ERGO $5), GelTex (GELX $23), Isis (ISIP $14), and Vertex (VRTX $29), as well as buy-rated Centocor (CNTO $39) and Genzyme (GENZ $27). In addition, many other companies' shares could rally based on their progress in discovery research and clinical trials.ÿÿ
-David Stone, Tim Wilson, Ph.D., Mark Augustine, Eric Schmidt, Ph.D., 5/98ÿ |
