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Biotech / Medical : Pharmacopeia, Inc. (ACCL) (Prev: PCOP)
ACCL 4.050-8.0%Nov 4 3:58 PM EST

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To: kinkblot who wrote (115)11/17/1998 11:11:00 PM
From: kinkblot  Read Replies (1) of 179
 
Lehman Brothers update on Pharmacopeia 11/10, news flow & financials:
lehman.com

note - posted here one week after report date, link drops from list after another week.

[excerpt]...........
NEWS FLOW
We now believe that the following news flow items might impact the
share price over the coming 12-month period:
4Q98 Non-pharma partnership.
4Q98 Achieve milestone payments from corporate partner.
1Q99 IND filed on compound from external development program.
1H99 Out-licensing of compound.
2H99/1H00 IND filed on compound from internal development program.

Previously we published the following table of news flow items:
3Q98 Non-pharma partnership.
3Q98 New collaboration agreement.
3Q98 Achieve milestone payments from corporate partner.
1998 IND filed on compound from external development program.
1999 IND filed on compound from internal development program.
....................

They adjust their financial model for fiscal years 99 and 00, to account for effects of the above on revenue streams, and factoring in the new deal with Schering-Plough:
- FY99 eps estimate to loss of $0.13 from net earnings of $0.21.
- FY00 eps estimate to net earnings of $0.19 from net earnings of $0.47.

They rate the shares 1-Buy (unchanged), with a 12-month price target of $24.

WT
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