bob, VRTX and AGPH have been rather volatile lately, in part due to uncertainty about long term benefits of protease inhibitors. Today's NY Times has an article about a decline in AIDS deaths, but yesterday, an H&Q analysts warned about drug resistance. Extending the lifespan of AIDS patients is clearly a plus for LGND's Panretin (topical treatment of KS). About the only clear projection is continued volatility, especially in Biotechs with heavy bets on protease inhibitors. Here's the article on VRTX:
Vertex stock falls after analyst report
NEW YORK, July 14 (Reuter) - Shares of Vertex
Pharmaceuticals Inc fell sharply Monday after an analyst said
progress had slowed in clinical trials of its protease
inhibitor to treat HIV infection and AIDS.
A Hambrecht & Quist report also urged investors to be
cautious about the protease inhibitor market during the next
several months because of accounts of emerging drug resistance
in HIV patients using existing triple-combination therapies.
Vertex' stock fell 4-3/4 to 33-1/8, with analysts
attributing the decline to the Hambrecht & Quist report,
released earlier in the day.
Glaxo Wellcome Plc GLXO.L has licensed the Vertex
compound, 141W94, and is using it in separate adult and
pediatric Phase III trials in combination with Glaxo reverse
transcriptase inhibitors AZT and 3TC.
Hambrecht & Quist said 141W94 would probably not be
available until the end of 1998, adding Glaxo had commented
earlier that development had been slowed down because of a
manufacturing problem with a batch of the drug.
Glaxo spokesman Ramona Jones said she had not seen the
Hambrecht & Quist report, but added said she was not aware of
any recent manufacturing delays.
"We're on schedule for 141W94 and expect to file a new drug
application in 1998" with the U.S. Food and Drug
Administration, she said.
Jones said she was unable to predict when the drug might
reach the market, if approved by the FDA.
REUTER
Rtr 19:28 07-14-97 |
