IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Roudy who wrote (1601)	10/21/1998 5:15:00 PM
From: Douglas Babbin	of 1762

IDEC reported EPS of .08 , .17 higher than Merrill Lynch's forecast of a loss of .09. The increase in earnings was due to increased profitability from the Rituxan joint venture, lower costs and a $2MM milestone payment. From what I have read Merrill has a price objective of $45. Off label use of Rituxan has increased, as oncologists have become more comfortable using the treatment. IDEC now has five novel compounds in clinical development. IDEC-Y2B8 is currently in Phase III testing and the BLA is expected to be filed with the FDA by the end of 1999.

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