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Biotech / Medical : Lidak Pharm. [LDAKA]
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To: luis a. garcia who wrote (482)8/22/1997 8:54:00 AM
From: Henry Volquardsen   of 1115
 
News release out this morning from Lidak, "Lidak Pharmaceuticals sees no reason for stock price decline". Katz is quoted as saying " We are frankly surprised by the decline in our stock value in light of last week's announcement of new and positive data from the phase 3 clinical trials of Lidakol." Katz also said the results showed sinificant reductions in 1) healing time of acute herpes episodes, 2) time-to-elimination of pain, itching and burning, and 3) a higher incidence of episodes that did not progress to open sores, "thus effectively aborting such outbreaks".
"We view these results as particularly significant, because we believe that our FDA application, if approved, will enable us to compete favorably in a market dealing with 150 million episodes of oral herpes each year in the US alone. There is currently only one FDA-cleared drug as competition and Lidak has major partners in the major markets around the world ready to commercialize our product when approved.
Therefore, I want to reiterate to our shareholders and the rest of the public that our confidence in the positive implications of these new phase 3 results is at the highest level possible."

Very strong statement by Dr. Katz. I am particularly pleased to see confirmation that we once again saw significant reductions in healing time.
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