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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: Vector1 who wrote (4278)	3/9/1998 12:16:00 PM
From: Pseudo Biologist	Read Replies (2) of 9719

V1, the Scientific American issue on gene therapy is the June 1997 one. One of the articles is written by a Vical scientist. It is a very readable and useful series. I agree with your general analysis, but one has to realize that Vical itself is pursuing, and funding, a very small number of projects. I happen to have here a recent report (2/11/98) by Maykin Ho of Goldman Sachs. She sees their current cash position of $44 mill lasting for four years; Vical had a net loss of about $6 mill in 1997. The bad news, of course, is that Vical will not reap most of the rewards on genetic vaccine work as they have given a lot of the potential away to Merck, Pasteur Merieux, etc. My main concern is lack of tangible progress in the clinic. I am not too excited about the Allovectin and Leuvectin products; seriously doubt they will show impressive results. But I would love to be proven wrong. PB

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