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Biotech / Medical : Biotechnology & Drugs
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To: SusieQ1065 who wrote (95)7/3/2002 8:08:23 AM
From: SusieQ1065  Read Replies (1) of 232
 
07:44 ET DNA Genentech downgraded by Deutsche Securities (29.95)
Deutsche Securities downgrades to MKT PERFORM from BUY based on valuation and potential near-term pipeline risk if upcoming Phase III data for Avastin in refractory, metastatic breast cancer do not support the regulatory filing; based on discussions with investigators, firm believes that DNA faces a high hurdle in meeting the primary endpoint of a 50% improvement in time-to-disease-progression for the drug. Price target is $35.
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