Bizarre presentation.......
No mention of FDA import halt, therefore no mention of whether or not the pipe is being filled. Sales presented through third quarter, didn't even mention that a hit is coming for Q4.
No discussion of either strategy or ongoing negotiations, Perceptin licensing.
No mention of LCBM and competitive position relative to hyaluronate-derived product candidates.
No mention of Janssen.
No mention of reimbursement issues.
Adcon-L has now been administered to over 100,000 patients. They see it as over a $200 million/year opportunity. "A safe product."
Current penetration 14 1/2%. Excellent reorder rate, "virtually 100% of hospitals that have ordered the product have reordered."
Adcon-T/N..... available in 28 countries, CE mark in EU. Pivotal trials in U.S. Targeting a "regulatory submission".
Adcon-P/A..... proprietary resorbable liquid. Prevents surgical and non-surgical adhesions. Good for laparoscopic procedures. Pivotal trial for -P, currently enrolling. Pilot trial for -A, enrollment completed, awaiting patient follow-up.
Adcon-I..... breast implants, 300K procedures/year. Capsular contraction is primary complaint in breast implants. Feasibility study underway at six studies, patients enrolling.
Acute inflammation..... coronary bypass surgery..... activation of the C' cascade. MAb (anti-properdin) is effective in animal models. He said they have patent protection for the antibody (they do??.... since when?). Currently humanizing.
Cognition modulation...... H3 receptor..... he discussed H1R (anti-histamines.... Claritin, etc.). H2 receptor.... Tagamet, etc., for the treatment of ulcers.
Sleep disorders, dementia, ADD. Perceptin.... ready to begin phase II clinical trials. Well-tolerated in phase I. Once daily dosing.
Schizophrenia..... NMDA glutamate receptor, focused on glycine. Lead compound identified, "building intellectual property estate".
Financials discussed through Q3 '99.
2000 objectives..... Approval for -L in Japan (Chugai). Begin U.S. manufacturing for Adcon-L. Regulatory submission for -T/N. File PMA for Adcon-P, and sign distribution agreement. Begin phase II for Perceptin and partner it wit a pharma. Begin pivotal trial, Adcon-A. Complete humanization of anti-properdin.
Very poor preparation, IMO. Very little concern for the shareholder, IMO. |
