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A very informative and insightful report on Pharmos in the April issue of Neuroinvestment newsletter. Pharmos is the feature
company. The scope of Pharmos' neurodrug HU-211 is fully explained as to its current state of development and the areas of which it
is being tested (stroke, TBI, multiple sclerosis, intestinal bowel disorders, glaucoma). A very positive outlook. Also, it
discusses Pharmos' cancer drug analogs (over 100) for Tamoxifen. The most recent news headlines has brought this breast cancer drug to
the forefront of discussion. Preclinical studies indicate that Pharmos' analog, Tamoxifen Methiodide, reduces the side effects
like osteoporosis, does not trigger uterine cancer, and may be more effective in slowing breast tumor progression. Other possible
areas for it are melanoma and pancreatic cancer. Pharmos' drug delivery systems are also discussed and at this stage, Pharmos' is
awaiting partners with therapeutic drugs which would benefit from their technology. The three eye drugs, Lotemax, Alrex, and LE-T
were also reviewed very positively. The newsletter predicts $1.02 per share earnings in 2001. At 30x P/E, thats a $30+ stock
price!!! It says that Pharmos' current price does not fully account for Lotemax/Alrex, and accords no value to HU-211 which is the
"crown jewel" of Pharmos' portfolio. Based on its potential, and near term revenue from Lotemax/Alrex, their year end 1998 price
target is $8 .
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