Abgenix, Inc. (ABGX) Message Board

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Biotech / Medical : Abgenix, Inc. (ABGX)

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From: bob zagorin	4/26/2005 10:54:00 AM
	of 590

ImClone's Erbitux Sales Disappoint (ABGX comment) 04.26.05, 9:44 AM ET Standard & Poor's Equity Research maintained a "hold" rating on ImClone Systems (nasdaq: IMCL - news - people ) after the company reported strong first-quarter earnings. However, U.S. Erbitux sales of $87 million were $7 million below the research firm's forecast; S&P Equity Research cut the fiscal 2005 sales estimate for Erbitux to $402 million from $420 million. The firm said, "ImClone has plans to file for Food and Drug Administration approval for head and neck cancer by the end of 2005, delayed from the second quarter." S&P Equity Research said that with positive news for Avastin from Genentech (nyse: DNA - news - people ) and possible year-end filing for panitumumab in colorectal cancer by Abgenix (nasdaq: ABGX - news - people ) and Amgen (nasdaq: AMGN - news - people ), "we would hold ImClone."

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