For biotech fans on this thread...
Big cancer meeting this weekend.I read in a news article in Science (sorry no link) that anti vegf antibodies, used as an angiogenesis inhibitor, had promising results in some mice. Genentech announcing results of study in humans this weekend, no idea if news is good and not sure if I want to speculate long given the current state of the markets.Here's an article from CBS marketwatch.
Cancer conference to begin in New Orleans
By Stephanie O'Brien, CBS MarketWatch
Last Update: 9:51 PM ET May 18, 2000
NewsWatch
NEW YORK (CBS.MW) -- Analysts and investors will be paying close
attention to biotech stocks next week, as cancer specialists from around the
world convene Saturday in New Orleans for the 36th Annual Meeting of
the American Society of Clinical Oncology.
Data on the latest advances in clinical cancer
research will be presented at the
conference, highlighting breakthroughs in breast,
lung, kidney and stomach cancers.
The organization's president, Dr. Joseph Bailes, will
also discuss a new initiative to assess the quality of
cancer care in the U.S., ASCO said. There will be
more than 2,000 scientific abstract presentations at
the conferenece, which takes place May 20 through
May 23.
Timothy Bepler, who manages the Orbitex Health
and Biotechnology fund (ORHAX: news, msgs) said
he believes there are a number of presentations at
ASCO that should be positive for biotech stocks
next. He said the sector appears to have "bounced
off the bottom" in anticipation of positive news at the
upcoming conference.
Robertson Stephens analyst Michael King said he's
not expecting "major breakthroughs," at the
conference but there are more therapies than ever
before, and a number of new approaches to treating cancer, which should
bring "more hope" for patients suffering from the disease, King said.
On an abbreviated list of highlights, King said Alza (AZA: news, msgs) will
be presenting data on liposomal doxorubicin, that will show that it's "more
potent and less toxic." That, King said, should drive further use of the drug,
which is used to treat breast cancer.
SG Cowen analyst Eric Schmidt said investors will also likely be focused on
Amgen (AMGN: news, msgs), which will be presenting Phase III data on
Abarelix for the treatment of prostate cancer.Vertex (VRTX} WILL
ALSO BE PRESENTING DATA ON INCEL, WHICH IS ALSO USED
TO TREAT PROSTATE CANCER.
SCHMIDT AND KING ALSO SAID INVESTORS CAN ALSO
EXPECT POSTIVE DATA IN ADDITIONAL USES FOR
MEDIMMUNE'S ETHYOL, WHICH IS USED TO REDUCE KIDNEY
TOXICITY AFTER PATIENTS ARE TREATED RADIATION OR
CHEMOTHERAPY. 
GENENTECH [S: DNA: news, msgs) will be presenting research on
vascular endothelial growth factor.
"Of high importance to investors is Phase II data on Genentech's
anti-angiogenesis antibody anti-VEGF in treating relapsed metatstatic breast
cancer patients. Those patients have cancer that has spread in the body.
Schmidt said the most promising data on anti-VEGF may be in patients with
colon cancer. Genentech is scheduled to present data on Sunday. However,
he said, VEGF may not work as well in non-small cell lung cancer, since six
patients that were treated with it suffered from sudden and life-threatening
hemoptysis, or spitting of blood from a pulmonary hemmorhage. "Although
lung-cancer patients clearly have poor lung constitution, it is troublesome
that all six cases of hemoptysis occurred in patients on VEGF," Schmidt
said in a recent note to clients.
Genentech will also present data on Rituxan, another antibody, that's used to
treat non-Hodgkin's lymphoma. IDEC Pharmaceuticals (IDPH: news,
msgs) developed Rituxan.
Other companies will be presenting research on
using monoclonal antibodies to treat cancer.
Antibodies are proteins that enable the body to fight
disease selectively by attacking targets on
disease-causing cells without harming the healthy
cells surrounding them. There are now eight
therapeutic antibody products sold in the United
States. Six of them were approved for marketing in
the past three years. They include blockbusters such
as MedImmune's (MEDI: news, msgs) Synagis and
Genentech's (DNA: news, msgs) Herceptin.
Protein Design Labs (PDLI: news, msgs) will
present early-stage data on its humanized
monoclonal antibody that treats relapsed lymphoma.
Among other companies that make antibodies,
Imclone Systems (IMCL: news, msgs) and Abgenix
(ABGX: news, msgs) will present data on using
antibodies to block a protein that may contribute to
breast cancer. Medarex (MEDX: news, msgs) will
also be presenting research on an antibody used in
treating metastatic breast cancer.
King said a less-well-known company called Genta (GNTA: news, msgs)
will be presenting early-stage data. The company is developing drugs that
block the production of disease-related proteins. The company is atempting
to target and disrupt key proteins in non-Hodgkin's lymphoma, melanoma,
and breast and prostate cancers.
Also on tap next week, UBS Warburg is also hosting a specialty
pharmaceuticals conference next week in New York.
Stephanie O'Brien is a reporter for CBS MarketWatch.
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