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Biotech / Medical : HuMAB companies
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To: nigel bates who wrote (506)4/2/2003 9:00:50 AM
From: Icebrg  Read Replies (2) of 1022
 
>>Other thing I noticed from the MEDX 10K is that they are forecasting having exhausted their net cash within 24 months.>>

Yes, they have a very aggressive clinical development program. In addition to the agents already in or on the verge to enter the clinic they are planning to move MDX-010 into phase III already this year. The success or lack thereof for anti-CTLA-4 is key to their short-term destiny. If things will still look good when phase II results start to come in, they will have limited problems to at least refinance their convertibles at reasonable terms or to outlicense a part of the program. If not, they will be severely squeezed.

But this should not be the reason for the huge gap in valuation when compared with ABGX. The latter company is IMHO even more dependent on one single program - ABX-EGFr, of which they only own 50 % and where there will be a lot of competition if this type of therapy should prove to be a success.

Erik
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