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Biotech / Medical : Indications -- Asthma/Allergy
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To: scaram(o)uche who started this subject4/4/2003 10:38:53 AM
From: Icebrg  Read Replies (1) of 86
 
In Play®
1:28 pm Tanox lower following Adams Harkness comments (TNOX) 12.47 -0.76:

Early decline in stock blamed on Adams Harkness Hill comment that ALTO study found a "slight imbalance" in the incidence of neoplasia between Xolair arm and the control group. According to firm, TNOX and partner DNA responded with the following:

1) difference was not statistically significant,

2) imbalance was removed by excluding cancer patients who had been enrolled in studies, and

3) FDA did not cite imbalance when it requested additional safety data.

Adams Harkness Hill's consultants did not believe there was a scientific rationale for why Xolair would create tumor growth. Instead, they believe it could be an artifact of the studies and would be smoothed out in practice. However, because firm expects a contentious panel review on May 15 to create volatility, firm recommended that investors take profits and revisit name after May 15.
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