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Biotech / Medical : Sirna Therapeutics Inc

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To: foxtrot who wrote (271)11/16/1999 12:53:00 PM
From: Biomaven  Read Replies (1) of 562
 
Well I'm not sure if this was the "big news" but this was released today:

New Cancer Drug in Multi-Dose Safety and Efficacy Studies; Patients Treated with Angiozyme in Phase I/II Studies at the Cleveland Clinic
BOULDER, Colo. and EMERYVILLE, Calif., Nov. 16 /PRNewswire/ -- Ribozyme Pharmaceuticals Inc. (Nasdaq: RZYM - news) and Chiron Corporation (Nasdaq: CHIR - news) announced today the initiation of dosing of patients with Angiozyme(TM) in a multi-dose Phase I/II clinical trial at the Cleveland Clinic. Angiozyme, an anti-angiogenic ribozyme, has already demonstrated safety and tolerability in single dose Phase Ia studies in normal volunteers and Phase Ib studies in cancer patients. It is the first chemically synthesized ribozyme to have reached this stage of development.

<snip>

If all we are talking about here was the commencement of Phase II, without any efficacy results from Phase I, then I think the announcement yesterday was extreme hype.

I took a flyer and shorted a few shares at $16 today. I could still regret it of course if the announcement tomorrow has any substance.

The company has interesting technology, but it is still very early, and the price pop today I felt was extreme.

Peter
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