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Biotech / Medical : CEPH

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To: Hedge who wrote (338)5/16/1997 10:40:00 AM
From: Bill Bishop   of 998
 
Cephalon drug rejected, and investors are shocked
From DBC News
5/16/97

SAN FRANCISCO (DBC) -- Investing in biotech companies is not for the faint of heart. Counting on the successful
development of one or two miracle drugs, many of these companies go public with no revenue or commercial products.
After years of costly research, testing and more testing, all it takes is one vote by the government's Food & Drug
Adminstration to leave a development-stage biotech company and its investors back where they started.

Take the case of Cephalon. The 10-year-old company had been developing the drug myotrophin in collaboration with
Chiron Corp.. It treats ALS, or Lou Gherig's disease, a deadly neurological affliction for which there is no known cure
and few treatment options...
dbc.com
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