Spectrum (SPPI) - Satraplatin or BMY re-united.
Replays and Presentations from the Analysts' and Investors' R&D Day at GPC Biotech AG (February 20, 2003) are available at
gpc-biotech.com (Don't forget to click on "Presentation" to get the slides. I did).
Of interest to investors in SPPI is an almost two hours long presentation of Satraplatin given by Marcel Rozencweig, M.D.,1 Senior Vice President, Drug Development at GPC.
As a matter of fact, this should be worth listening to for almost anyone who is interested in the development of cancer drugs, as Dr Rozenzweig gives a lot of information about the thoughts underlying oncology drug development. And he should know after almost 20 years at Bristol. (He even claims to have "invented" the accelerated approval procedures, later adopted by FDA).
As a matter of fact Satraplatin is not a new drug to him, as he was already working on it at BMY. It had advanced as far as having the registration trial started, when BMY pulled the plug. A big mistake it seems, if one should believe the doctor.
As for SPPI with their market cap. of only 3,1 mUSD there is only one appropriate comment: WOW!
And as a side-note. Raj continues to suck up stock from the market. Last monday there was a filing for 5.000 at just below 2 dollars. I suppose that he has seen the same Satraplatin data, that Dr R saw, but BMY never bothered to analyze.
This is good stuff.
Erik |
