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Biotech / Medical : ICOS Corporation

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To: Robert Scott who wrote (618)	2/3/1999 1:05:00 PM
From: Lel H	Read Replies (1) of 1139

I thought the conference call was a mixed bag. On the positive side, it's good that ICOS has put LeukArrest into phase III. The phase II trials for IC351 are very encouraging, and it appears that ICOS are moving forward carefully and are going to try to address some of the issues that have affected Viagra. The advancement of IC14 into the clinic is also positive, because it shows that ICOS is advancing its pipeline. Financially, ICOS is secure for the near term, which was certainly a concern about a year ago. On the negative, I'm disappointed that IC351 has not yet started phase III. I doubt that LeukArrest will be shown to be effective in MS, and I've got some doubts about its use in shock, mainly because I'm not sure how well endpoints can be determined in a heterogenous test population. I would have liked to hear more about Pafase, especially about the trial design of the failed inhaled-challenge trial. Overall, it does seem to me that ICOS is moving steadily forward. That's about all we can ask from a young biotech. I'll post more thoughts later. Best wishes. Lel

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