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Biotech / Medical : Alteon (ALT)
ALT 4.225-0.4%3:59 PM EST
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To: Jonathan Lebed who wrote (205)1/21/1998 5:42:00 PM
From: Rudy Saucillo  Read Replies (1) of 318
 
My post-partnership target of $10/share (post #132) was just touched yesterday. I think Montgomery's target of $31/share is very achievable by mid-summer prior to release of Phase III results.

I'd like to see Phase III data before attempting to establish a target beyond that timeframe although I'm optimistic the results will be positive.

BTW, Salomon Smith Barney recently came out with a "venture outperform" rec and a price target of $14. Very conservative.

Earnings in 1999? Possible, but I expect ramp-up to begin in 2000. Also, I anticipate significant off-label use for diabetic complications beyond nephropathy as allowed by the 1997 FDA reform legislation. ESRD is a natural because of the ongoing Phase III trial. Other indications are also likely, depending on the ALTN/GNE clinical program.

Rudy
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