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Biotech / Medical : CNSI Cambridge Neuroscience
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To: Miljenko Zuanic who wrote (182)6/24/1997 10:15:00 PM
From: Dr. John M. de Castro   of 675
 
I agree Miljenko with most of what you say. In particular, it should be stressed that stroke and TBI are quite different conditions and what may be troublesome side effects for stroke patients may not be a problem at all for the comotose TBI patient.

These results, however, don't surprise me in the least. Cerestat has been walking a fine line between efficacy and safety and the release today suggests that the window is not sufficient.

I do suggest that your statement that it will be hard to develop a successful drug is incorrect. As I have posted here and on the NTII thread. I believe that NTII's memantine is likely to be successful. You pointed out correctly that NTII did not have the patent rights for memantine application to the stroke indication. However, the recent work of Stuart Lipton and others has shown that homocysteine levels are elevated in stroke patients. NTII's patent extends to conditions with elevated homocystein levels. I have it on good authority that this now qualifies memantine for stroke. In addition, memantine can be used for prophylaxis in people with high homocysteine levels who are at risk for stroke.

In any case, today's announcement is sad news for CNSI and for biotech in general. the sector needed some good news and the failure of CNSI and IDPH on the same day is not good.

I do believe that the market over-reacted to the news today, though, and CNSI now looks to be undervalued.

John de C
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