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Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: caly who wrote (946)	9/2/1999 12:14:00 PM
From: Saulamanca	Respond to of 2515

" A biotech ready to bust out Biotech companies have a way of going deeply in debt in hopes of discovering that breakthrough drug that'll reverse the company's fortunes. And there are lots of checkpoints along the way to that blockbuster that can generate interest in a biotech stock. Through the clinical trial phases, to the FDA approval process and then on to market. Here's one that's approaching one of those milestones, and biotech stock writer Jim McCamant, of the Medical Technology Stock Letter, has high hopes. The company is ImClone Systems (IMCL: news, msgs) and it's starting Phase II studies for its lead cancer drug, C225, in patients with refractory head and neck cancer. McCamant writes for the MarketMavensReport that he doesn't think Wall Street fully understands what a big deal this is for the company. But he says it is a big deal, because ImClone will file for FDA approval based on the results of this study. He thinks if all goes well, C225 could be approved by the third quarter of next year. The company has also started a similar trial in colorectal cancer patients, and if those results are positive, it would add substantially to sales. McCamant says the stock has sold off over the last couple of weeks, not on negative news, but because of one significant seller who looks to be done and the stock has begun to work its way higher again. ImClone is still up more than 200 percent year to date and close to its 52-week high set back in July. Read the full story..." cbs.marketwatch.com