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Biotech / Medical : Biotech Valuation

CRSP 52.20

-5.5%

Nov 12 3:59 PM EST

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To: Biomaven who wrote (7266)	10/29/2002 11:36:20 AM
From: Icebrg	Read Replies (2) of 52153

A lot of unknowns at play here: Erik NEW YORK, Oct 29 (Reuters) - Shares of ImClone Systems Inc. (NasdaqNM:IMCL - News) fell as much as 14 percent on Tuesday after an electronic media report said the company's cancer drug may have failed a European trial. ImClone's German partner, Merck KGaA (Frankfurt:MRCG.F - News), which is conducting the trial, vigorously denied the report, which appeared on the Web site of TheStreet.com and cited an unnamed U.S. oncologist and an unnamed Wall Street fund manager who have been in contact with unnamed European doctors participating in the trial of Erbitux.

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