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Biotech / Medical : HuMAB companies
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To: Icebrg who wrote (495)2/20/2003 5:50:43 PM
From: Icebrg  Read Replies (1) of 1022
 
Today's Abgenix conference call.

This must be the most embarrassing conference call I have ever heard. It was even worse then when Mitch had to comment on the fact that GSK had decided to return huC242-DM1 to IMGN and at the same time inform the world that DNA had moved Trastuzumab-DM1 back to preclinical research status.

As expected, Abgenix was allowed to say almost nothing about the progress (or lack thereof) with regard to ABX-EGF. Amgen is a tough licensing partner to deal with. Withy did however mention that in the monotherapy trial they have done a preliminary study on the first 40 patients enrolled and that they are now continuing to enroll patients. So, there should at least have been some signs of biologic activity. They also said that they don't expect that the product will be on the market until 2007.

It was also pretty evident that Abgenix has changed their clinical development strategy. It seems that they now do not intend to bring anything into the clinic on their own. Everything will be done through various type of partnerships. And Withy has almost started to sound like a clone of old DD. In mind although not in presentation skills. Now it is a matter of being able to accumulate as many shots on goal as possible. And with good partnering the number of possible shots will increase. Even if the financial rewards if the goal is hit will be diluted.

Erik
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