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Biotech / Medical : AMLN (DIABETES DRUGS)
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To: tonyt who wrote (423)8/17/1997 8:44:00 PM
From: Henry Niman   of 2173
 
Tony, I think that you are missing some points here. The PRNewswire release is put out by the company. It has the most positive spin. For a company with a market cap of over $1/2 Billion, I don't that the street will be overly excited about proof of concept. Proof of concept usually comes when start-ups are trying to get more venture funds so they go public (and their market caps are about 10% of AMLN's). AMLN could have a negative effect on Biotechs, because most are at an early stage (no products yet). AMGN of course is rated on price/earnings ratios and at this stage has a bigger impact on pharmas than Biotechs.
Lately Biotechs have been struggling because many have had failed clinicals (results are not statistically significant - like AMLN's type II data). AMLN is trying to "make it work" (for type II) by going after a subgroup and narrowly defining its use. This is not good news.
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