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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: kha vu who wrote (111785)8/14/2000 2:15:03 PM
From: Ron  Read Replies (1) of 120523
 
IMCL, interesting news:
RESEARCH ALERT-Prospects of ImClone
drug improved - Prudential

NEW YORK, Aug 14 (Reuters) - Prudential Securities analyst Robert Toth
said on Monday that prospects for ImClone Systems Inc.'s
(NasdaqNM:IMCL - news) experimental cancer drug C225 have improved following a ``positive''
meeting last week between U.S. regulators and executives of the biotech company.

-- Said officials of the U.S. Food and Drug Administration met with ImClone executives on Aug. 11 to
discuss C225, adding the agency decided to allow the company to seek marketing approval of the drug
for refractory colorectal cancer.

-- Said the positive outcome of the FDA meeting indicates C225 could be on the market by late 2001, as
much as 18 months before other medicines that also target various types of cancer by blocking a protein
called epidermal growth factor receptor (EGF).

-- ``We continue to believe that C225 has blockbuster potential and now is further assured of a possible
first-to-market advantage in the attractive EGF Inhibitor cancer market,'' Toth said in a research report.

-- Said the FDA meeting was a standard formal discussion in which ImClone and agency officials
discussed how the company should proceed in seeking U.S. marketing approval of C225. The drug is a
monoclonal antibody now in trials for patients with colorectal cancer who have failed other therapies. It is
also being tested in two other trials against head and neck cancer and against pancreatic cancer.

-- Toth said in an interview he believed C225, if approved, could garner eventual annual sales of $1
billion. He said at least 200,000 of an estimated 1.2 million Americans with colorectal cancer have failed
to respond to standard current therapies and might possibly benefit from the ImClone drug.

Shares of ImClone were up 11-1/4 to 81-3/4 on the Nasdaq in early afternoon trade.
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