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Biotech / Medical : Texas Biotech (TXB)

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To: Meridian who wrote (122)	3/17/1997 4:17:00 PM
From: Meridian	of 834

Further results from Anaheim: Now I'm getting a headline that reads "Texas Biotech's Novastan Shows No Benifit in Study". According to this article there was NO improvement shown between Novastan and a placebo, which implies that TWO trials were conducted - a stand-alone trial with Novastan as a mono-therapy, and an adjunct trial where Novastan is used in combination with t-PA. The company chose to report only the "positive" adjunct therapy results, and the press chose to report only the statistically insignificant mono-therapy results ... or at least that's my interpretation. As an adjunctive therapy is Novastan as attractive as if it were a mono-therapy? Probably not, but what's the degree? Does it warrant a 25% drop in the stock price? Brian

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