GelTex Pharmaceuticals (GELX) Message Board

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Biotech / Medical : GelTex Pharmaceuticals (GELX)

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To: H. Bradley Toland, Jr. who wrote (51)	6/23/1998 11:47:00 AM
From: Robert L. Ray	Read Replies (2) of 127

To All, Wow, this sure is a quiet board of late. Gelx's stock price hasn't exactly been doing great of late so I guess that's part of the reason. Also Gelx doesn't exactly seem to be a press release machine like some other biotechs are. If anyone is out there and still following this stock what are your current thoughts on it at this price?? Personally I think it's a screaming buy. Unfortunatly I also thought this way a few weeks ago when I bought at 23 3/8:( I'm thinking of buying more though. Rena Gel seems to be a shoo in for approval. GELX is already making the stuff with their manufacturing partner I think. I suppose the imminent Rena Gel approval should already be priced in the stock but still I'm hoping for a least a little bit of a pop when it's official. Also I'm pretty positive on their Cholestagel product getting evenual approval. It's performed well in the clinicals so far. It seems to be the best in it's class. (It's class being the bile sequestrants) From what I've read Gelx is currently in phase 3 trials with Cholestagel. They started a large Phase 3 study around the first of the year which was suspossed to run for 6 months so it won't be too much longer before the results on that trial are out. They are planning a smaller phase 3 later on. It just looks to me that Gelx is well anong the road to getting approval on it's first 2 products that are and will be submitted to the FDA. If and when that happens it should really make people sit up and take notice of Gelx's technology. After Cholestagel the pipeline unfortunately is a bit on the thin side but I'd say that the 2 (hopefully) approved products will see them thru this period in good fashion. They are working on an anti-obesity drug for their 3rd product but haven't as yet identified a lead compound so they are still many years away on it. But if they could be sucsessful with it, it could possibly be a blockbuster. Of course I guess lots of others are working on anti-obesity drugs but to my way of thinking should Gelx get approval on their first 2 drug submissions to the FDA it will confer an instant credibility to the company. People will just start looking at it in a different light and although the anti-obesity drug/s would still be many years in the future I think that this credibility of the Gelx technology would go a long way towards creating a positive buzz about the company. When you subtract the cash on hand from the market cap on Gelx you come up with a value of around 200 million.... This is just way, way, too cheap for a comany that is on the cusp of their first approval and well into phase 3 trials of their second product which has looked very good in previous clinicals. Hopefully sometime in July they will release the results of their Cholestagel Phase 3 and the results will be positive enough to give the stock a boost. The Rena Gel potential approval may be priced into the stock to a certain extent but I don't think the market is giving Gelx's stock any credit for Cholestagel at all. That is going to change I feel.

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