Rick,
Agreed. REGN has over 300 employees with production plant worth over 20M. Their diversfild research and development program will bring products to market, not in short period, in two-three years.
Regards the "hole they dug for themselves", AMGN helped a loot. First, CNTF and BDNF for several indication worked well in animal model. REGN has discovery for their receptors, and study mechanism of action. CNTF phase II indicate that at higher dose, necessary for therapeutic effect, may be toxic. AMGN pushed, because its products pipeline was depleted, for phase III with higher dose, and we know results.
Some story for BDNF. Phase II indicate that results in phase III may be positive, but with a great risk for failure. At that time REGN has collaboration with Medtronic for intrathecal delivery, but AMGN lost patience and they pushed to phase III. When phase III indicate that subcutaneous BDNF will not work, they initiate phase I (Nov.) with intrathetcal BDNF delivery. After BDNF fuilure, AMGN immediately started phase I for intrathecal GDNF and CTNF for ALS indication. Actually, they are pushing REGN-Medtronic collaboration in to their house.
REGN management struggled to prepare company by expanding research programs. Thanks Good, they have loyal scientists and their works show progress, P&G collaboration, join small molecules research collaboration with Pharmacopeia, and now discovery on MAP kinase.
This may not be immediately recognized among investors, but with good results on BDNF/NT-3 phase II for neuropathic pain, things will start move positively.
mz |
