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Biotech / Medical : XOMA. Bull or Bear?

XOMA 29.81

-4.2%

Dec 5 9:30 AM EST

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To: Robert K. who wrote (9460)	3/31/1999 1:48:00 AM
From: aknahow	Read Replies (1) of 17367

Phase II is completed but P. I continues? Berkeley, CA -- January 7, 1999 -- XOMA Ltd. (Nasdaq: XOMA) announced today that it has received a $2 million milestone payment from Genentech (NYSE: GNE),based on the successful completion of its Phase II study with the hu1124 antibody product in psoriasis patients. Results from the study will be presented at the first appropriate scientific forum. Does this mean no P III until retroactive P I is complete? Who pays for the trial? Are there milestones? If they are still looking at what is the proper dose how can P III start? Was story of GNE trying to decide to stay with XOMA just a cover story to kill time while dosing level determined? At least I held open the possibility that this was not a P III trial. It certainly is a trial, and I think this type of information needs to be given to shareholders up front asap. Don't at least some of you feel that the confusion created by not knowing what this, "New Trial" was all about could have been avoided by XOMA just explaining what was going on?

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