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Biotech / Medical : Biotech for less than a buck.

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To: RWReeves who started this subject	4/19/2004 9:03:03 PM
From: michael_f_murphy	Read Replies (1) of 743

BFLTAB: Stressgen Biotechnologies Corporation (TSX:SSB) Trades as SGBXF in the US. Company recently completed a small (27 pts) Phase II trial of HspE7 for recurrent respiratory papillomatosis (RRP)in kids with stat sig results in reduction of surgeries. Will do a pivotal Phase III trial for RRP. HspE7 has FDA orphan drug status and fast track for RRP. Has partnership with Roche which includes (1st generation) RRP. "Roche option at BLA approval. Roche has an option to commercial rights for the 1st generation product upon the approval of a BLA, at which point Roche would pay a considerable exercise fee to commercialize 1st generation HspE7 product. If Roche exercises its option, Stressgen will still record all product sales in the U.S. and Canada for first three years, but beginning in Year 4, Roche will record all sales worldwide, and will pay to Stressgen sales-based payments, similar to royalties." A PII trial for anal dysplasia had mixed results apparently because the placebo arm had unusual effect. Co talks about how difficult it is to get pathologists to agree on improvement. Plausible I guess but the bet is for RRP. From the company: "The Company's proprietary platform technology is based on the covalent bonding of a stress protein, also called a heat shock protein (Hsp), to proteins such as viral or cancer antigens. The resulting CoVal™ fusion proteins are designed to stimulate immune responses to the disease-specific antigen present in the fusion. By targeting immune responses to a specific antigen, CoVal™ fusions use the body's immune system to combat infectious diseases or cancer. HspE7 is the lead product candidate produced by this technology and is a fusion between a Hsp and a viral antigen from human papilloma virus (HPV) type 16." Has C$52MM cash on hand after a secondary of C$20MM and 63MM shares outstanding for about C$0.82 cash/share. 2003 burn was C$16MM. Last quote on the TSX was C$1.05. Less than a buck US :-)

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