Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: Intel Trader who wrote (4760)	7/6/1998 3:29:00 PM
From: Steve Fancy	Read Replies (1) of 6136

Just received report from MS-DW dated July 7, 1998, here's key points, will post some details later... Rating: Outperform Price: 28 3/4 Price Target: $45 KEY POINTS: The World AIDS Conference in Geneva highlighted both limits of current HIV therapies and potential new treatment strategies, including Agouron's immunotherapeutic Remune. Agouron's HIV protease inhibitor Viracept continues to be viewed as the best in its class and should continue modest revenue growth through 2000, as we have previously forecast. Dramatic EPS growth coule continue if Remune is approved in 2000. Next key Remune datapoint is at the September ICAAC meeting in San Diego. To reflect upfront license fees for three recently inlicensed compounds, we have decreased our fiscal (June) 4Q estimates to a loss of $0.27 from a gain of $0.04. Further changes in projections await clarification of new capital structure, which could provide off-balance sheet treatment of some R&D costs. Outperform rating is maintained.

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