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Biotech / Medical : Ciphergen Biosystems(CIPH):

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From: mopgcw12/14/2004 2:13:47 AM
   of 510
 
pipe: ciph:Promising Cancer Diagnostic Results Presented at ASH
2004-12-07 09:55 (New York)

(CIPH - $ 3.32)
Underperform
Volatility: Medium

KEY POINTS:

* Today at the American Society of Hematology meeting, Dr. Giannoula Klement and Dr. Judah Folkman from the Children's Hospital Boston will be presenting proteomic data that has potential use as an early cancer diagnostic.

* In their study, using Ciphergen's SELDI-TOF mass spectrometer, the scientists examined platelet extracts from cancerous and non-cancerous tissue. The study determined that cancerous platelets can selectively sequester angiogenic regulators including VEGF, bFGF, PDGF, PF4, endostatin and tumstatin.

* This data suggests that proteomic analysis of circulating platelets can create an angiogenic profile of regulator proteins that can potentially detect microscopic cancers that are currently undetectable.

* Ciphergen's ProteinChip arrays "capture" select proteins or peptides from biological samples that are analyzed by the ProteinChip Reader. The system utilizes Surface Enhanced Laser Desorption/Ionization (SELDI) to excite the captured proteins. The system then precisely measures the molecular weight of the analytes via Time-of-Flight (TOF) mass spectrometry.

* Ciphergen's advanced software suites acquire and analyze the data to identify the proteins in the sample. Identified proteins and expression patterns are associated to a disease phenotype, thereby providing clinicians with a protein biomarker, diagnostic/prognostic information and toxicity information.

* Our price target of $4 is based on 2x FY04 revenue of $53.5 million.
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