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Biotech / Medical : QLT PhotoTherapeutics (QLTI)
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To: Doug Lakin who wrote ()7/30/1996 5:06:00 PM
From: Doug Meetmer   of 1321
 
doug,

Do you know anything about Pharmacyclics? From what I know about the company
they have a photosensitizing drug that has a much more benign profile with regard
to photosensitivity from outside sun exposure. People do not have to stay indoors for 4-6 wks. Their drug also appears
to melt tumors away when activated by red light. If the drug really
does offer significant profile advantages compared to QLT's photosensitizers,
should we consider the possibility that Pharmacyclics could be a viable force in
this arena at some point in the future. By the way, Pharmacyclics (PCYC)
was founded by Rich Miller, the same physician who founded IDEC Pharm.
Everything he touches turns to gold. PCYC just took a significant hit
in valuation due to the recent biotech correction, and it is selling
near its 52 week low (last trade 12 3/4 to 13 1/4). Morgan stanley
had announced a secondary offering at 17 3/4, which now will obviously
not fly, but it shows that the stock may be undervalued.

What do you think? I would love to hear your thouhgts.

Doug
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