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Biotech / Medical : MEDX ... anybody following?

MEDX 31.58

+0.5%

Nov 5 12:44 PM EST

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From: LJM	1/10/2007 6:19:58 PM
	of 2240

Medarex To Spend $13M/Month On Operations In 2007 >MEDX Jan 10, 2007 17:37:00 (ET) DOW JONES NEWSWIRES Medarex Inc. (MEDX) will spend or "burn" about $13 million a month on operations in 2007, the biopharmaceutical company said Wednesday in a Securities and Exchange Commission filing. The Princeton, N.J., company had about $340 million in cash, cash equivalents and marketable securities as of Dec. 31, the filing said. It had $445 million in equity interests as of Jan. 8, the filing said. Medarex is scheduled to make the 2007 monthly spending projection in a presentation Wednesday at 4:30 p.m. PST at the JPMorgan Healthcare Conference in San Francisco, the filing said. Medarex is working to develop and potentially commercialize antibody-based therapeutics to treat diseases, including cancer and inflammation. The company's stock closed Wednesday at $13.68 each, down 27 cents. Medarex stock has gained about 16% in value in the last three months. -Greg Wright, Dow Jones Newswires; 202-862-3546; gregory.wright@dowjones.com (END) Dow Jones Newswires January 10, 2007 17:37 ET (22:37 GMT)

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