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Biotech / Medical : Ionis Pharmaceuticals (IONS)
IONS 72.48+4.3%3:59 PM EST
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To: Bill Turk who wrote (1)2/18/1999 11:34:00 AM
From: John Romeo  Read Replies (1) of 4676
 
I was on this morning's conference call and other then the RA moving back onto the shelf until a high oral bioavailable product is developed, came away positive.I also saw Stan C. on CNBC I have to give them all credit for delivering a concise,insightfull look at where they are now and where they hope to be in the future.I was concerned about the small amount of questions from the listeners maybe a half dozen or so.
The single most positive comment was by S.Crooke on phIII on 2302 for
Crohns.A small group of the study were unblinded and management was given the opportunity to review the results.Based on this review the Company has decided to begin early startup of filing activity for FDA,including manufacturing,method of controls and other activity that will reduce the filing by at least "9 months" and characterized it as a"home run" which is"rapidly moving through process".
In addition 2302 continues to look good in psoriasis and organ transplantation.
Crooke and Lynne Parshall both guided listeners to Vitravene sales of
$1mm for FY99,which Crooke increased to $1.2mm on CNBC.
Of interest was comment of a new compound for RA with a 500% increase in strength as a backup to the failed 2302 RA used previously.
Obviously a comment was made about the equity sale being put off for market conditions.An obvious,but appropriate question was how do you expect to pay off $40mm LT Debt,Parshall and Crooke both answered through operating profits.
This is the extent of call I felt was of most interest.IMHO
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