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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Robert K. who wrote (10544)	6/27/1999 7:44:00 AM
From: BostonView	Read Replies (1) \| Respond to of 17367

Re: SUTRO's Research of XOMA I thought it was a wonderful piece of equity research that finally puts a stake in the ground (yes, perhaps a conservative one) as to the commercial potential for Xoma's current pipeline. There's been so little discussion here, or anywhere, about the business side of Xoma's science that I personally consider his work a sort of breakthrough...finally something I can sink my teeth into. It will be interesting to see how things unfold over time, but I read his "Neuprex share" numbers for various indications to be cautiously conservative in scope. The $32 price target for XOMA reflect (only) 20x 2001 projected earnings of $1.62/sh on total revenues of $196 million. This seems a remarkably low percent use of Neuprex for the then three approved treatments (3% for sepsis/septic shock, 5% for trauma, and 75% for menning). Even still, he projects them growing to nearly a billion in revenue by 2003 as other indications gain approval, but with still very low share projections. I'm glad Melnitchenko put some conservative numbers on the table. And I personally think he believes XOMA's potential to be far greater, but best to let this baby walk before it runs. <<insert your disclaimers here>> As for Raging Bull commentary, it's just good to have people discussing XOMA (in a positive light)!! BV