MZ:
Thanks! Can't wait until you have more free time again.
Yahoo SUGN board? Yikes. I can only cover one board at Yahoo, and even then my stomach can't take it for long.
I realize that I'm not telling you anything new, but, for others who might just be beginning to check out OSIP.....
There were disadvantages to being both (1) an old-time biotech, and (2) a successful old-time biotech.
OSIP started out with a reagents bent. They were in there competing with PharMingen, Santa Cruz Biologicals, etc. When they branched out into therapeutics, they licensed their research capacities at an early stage. Thus, they committed to old-time royalty rates of 6-8%. Many companies failed with these early projects, and emerged later with new projects during the era of 10-15% royalties. OSIP, then Oncogene Sciences, was successful, however, and they're laboring away for relatively small royalties. Thus, we're talking about a slow [potential] 10-bagger here, rather than an overnight one.
The projects are maturing, and nobody but nobody should turn their eyes away from that PNU license. These observations mean that they'll be able to take future development projects through phase II before licensing, and that they'll be able to slowly (projects where royalties are >12-15% should not be expected for at least five years) increase leverage.
Most who follow the sector closely have respect for the screening capacities of the company, and know that targets are selected both from in-house and collaborative projects.
Anaderm..... one doesn't want to miss the op (aging of skin, hair loss, etc.), IMO. Committed funding. Skin lightening agent (age spots) expected to be in clinic within a year.
No company is more in the thick of solid cancer stuff (angiogenesis and transformation markers) than OSIP. 6-8% of $800 million (picked at random from nice sounding numbers) is a nice chunk. If you start to think "chronic" disease (OSIP has focused on oral bioavailability), then one comes up with numbers north of $800 million. And nobody but nobody can outmarket Pfizer. The "ifs" and "what ifs" for OSIP are fun, even though the market value for them currently approximates $0.
One should not underestimate the need for diagnostics to match new therapies which are in development, the future role of diagnostics in managing cancer as a chronic disease.
Anti-EGFR..... the OSIP/Pfizer molecule is 5-10X more potent than the Zeneca entry. The IMCL molecule is of interest, but Pfizer or Zeneca should dominate, if all goes well and IMO. Current phase II trial could suffice for registration (could not, too!).
At least one VEGFr inhibitor into clinicals by the end of '99. OSIP molecules much more potent than SUGN molecule (5416, I don't know much about the second generation compound).
Depth of cancer program extends to over ten targets.
Psoriasis project into clinicals within a year. Deal with Pfizer reminds me of the Genentech/XOMA deal.... good for everyone.
Burn very much under control, and the patent could reduce it further than most expect or understand. |
