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Biotech / Medical : QLT PhotoTherapeutics (QLTI)

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To: Harry Lewis who wrote (281)3/8/1998 9:12:00 AM
From: Chris D  Read Replies (1) of 1321
 
Her $45.00 12-month target price is based on:
A) upcoming expected FDA final approval for the use of Photofrin in the treatment of early lung cancer.
B) Photofrin's German & French launch + other European filings with planned approvals in 1998.
C) Phase III BPD for AMD trial completing enrollment on time.
D) QLT is/was trading at a 27% discount (Dec. 12 - $16.70) to other photodynamic therapy companies despite being more advanced and having a stronger financial position.
E) Most of the market valuation for QLT lies in the more attractive AMD market.

Chris
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