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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: Oliver & Co who wrote (2278)10/10/1997 8:08:00 PM
From: biopicker   of 6136
 
I attended the UBS biotech conference on Thursday where Agouron presented. It was a very, very well-attended meeting in the Grand Ballroom of the Pierre Hotel in New York. There was no new news in the formal presentation but, as is customary, there was a breakout session after the formal presentation where there were questions directed to Peter from various institutions. Concerning Thymitaq, Peter said the clinical data will be reviewed beginning of 1998, and drug is still ontarget for NDA filing year-end 1998/early 1999. IMO the big upside to this drug, and there is a very big upside, are the trials using Thymitaq as a radio sensitizing agent in combination with chemo drugs during radiation treatments. This market is huge, and the early data they see is very encouraging. I believe this was Roche's main interest in funding development of this drug. We will see. But again, Peter restated how deep the potential pipeline is, and now we have a tremendous revenue source to help develop all these exciting drugs. By the way, Jay Silverman of Robertson Stevens substantially raised his earnings estimates going out the next few years and raised his one-year price target from $64 to $84. I believe Jay is the one that best understands the potential of Viracept and Agouron, although Elise and Doug have also done excellent work. Let's hope Jay is right.

Cheers.
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