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Biotech / Medical : Cell Genesys (CEGE)
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To: Luce Wildebeest who wrote (897)5/5/2000 3:51:00 PM
From: david james  Read Replies (1) of 1298
 
ABGX moving up (probably on Genentech's news) and CEGE getting dragged along with it. Each $6 move of ABGX increases CEGE's book value by $1.

Currently ABGX is at $113

4.852 mill shares x 113 = $548 million
$250 mill in cash
$15 mill in facilities etc

Book value is around $813 mill
with 36 mill shares = $22.60

Genentech's very successful MAB drug Herceptin was found to produce a fatal allergic reaction in a small number of cases. This would not occur with a fully human MAB like that produced by ABGX. This demonstrates the importance of the ABGX and MEDX technology.
_______________________________________________________

Currently there are about eight antibody products on the market, including Genentech Inc.'s Herceptin for breast cancer. But those products
are part mouse and part human, so-called hybrid antibodies. Abgenix and Medarex would distinguish themselves by being ``fully human.''
...

Scientists have been trying to harness the potential therapeutic power of antibodies since the early 1980s, with little success until the newer
hybrid antibodies came along in the last two years. Typically, drug makers create hybrid antibodies out of genetically engineered
combinations of human and mouse gene fragments. But because these antibodies contain small bits of mouse protein, they trigger an
immune response, which can include potentially fatal fever.

from biocognizance.com
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