Two part answer: Mike, do you think he's equivocating because he's looking for the best deal (i.e. if the deal disappoints the street, stock gets slammed?) or that he's honestly backing off? I would be very distressed to hear the latter.
Frank, I think that's a good question and have no idea!
And, for all, even though we have probably abandoned the idea of biotech, here's a fascinating article that was dropped into my mailbox this a.m.:
Daresbury Laboratory's synchrotron light source played a key part in helping scientists from the Institute of Cancer Research develop the first of a new generation of drugs to block the effects of cancer genes. This news comes hot on the heels of the announcement on 1 December of the decoding of the first part of the human genome, chromosome 22.
The new drug, known as 17 AAG, is the first step towards finding a new therapy for cancers that have so far eluded treatment. It works by targeting a 'molecular chaperone' called Hsp90, which helps activate over two thirds of cancer genes. The new drug blocks the activity of this molecule and stops the genes expressing proteins; in other words, stops them working.
X-rays from Daresbury's synchrotron light source allowed the researchers, led by Professor Laurence Pearl from the Institute of Cancer Research, to work out the 3-D structure of the Hsp90 molecule. The researchers first produced tiny crystals of Hsp90, only a tenth of a millimetre in size, then placed these crystals in the fine X-ray beam from the synchrotron light source. The atoms within the molecule then deflected the X-rays and produced unique patterns on a detector; these patterns allowed the 3-D structure of the molecule to be determined.
An image of the 3-D structure was then examined on computer, which allowed an understanding of how the drug worked and enabled improvements to be designed at a molecular level. The new drug prevents the Hsp90 'molecular chaperone' from folding proteins from cancer genes into the right shape for them to cause cancers.
Professor Pearl said, "Although the discovery of cancer genes is currently the hot topic in terms of research, it can only be useful if their structure and functions are understood. That is why this approach is so important and has the potential to revolutionise anti-cancer drug development." |
