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Biotech / Medical : SNAP -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (69)	9/10/1999 7:22:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 124

biz.yahoo.com Ugh. Molecules are dropping like flies. Now, the question is.... at this market cap, does this modest evidence for proof of principle mean that we're not headed too far south on Monday morning? I'll be working on valuation for much of the weekend. Why do they keep saying "oral"??........ <TABLE> Summary of Certain Drug Discovery Programs - ------------------------------------------------------------------------------------------------------------ Collaborative Program(1) Receptor(s) Primary Indication(s) Status(2) Partner Licensee - ------------------------------------------------------------------------------------------------------------ Serotonin 1F Acute Migraine Early Preclinical(3) Eli Lilly __(4) Depression Phase I Clinical Eli Lilly __(4)(5) Depression Late Preclinical Eli Lilly __(4)(5) Depression Late Preclinical Eli Lilly 1A Smoking Cessation Late Preclinical(6) Eli Lilly 2C Obesity Early Preclinical Eli Lilly Alpha Adrenergic 1a Benign Prostatic Hyperplasia Phase II Clinical Merck 2a, 2b or 2c(4) Pain Leads Identified Grunenthal 1a, 1b or 1d (7) (7) Glaxo Neuropeptide Y Y5 Obesity Early Preclinical Novartis Y2 Pain Discovery (8) Galanin 1, 2, and 3 Obesity, Diabetes, Leads Identified Warner- Alzheimer's Disease, Lambert Depression and Pain </TABLE> (snip) (3) In August 1998, the Company and Lilly announced that LY334370, a selective serotonin 1F receptor agonist (SSOFRA), would advance to the Phase III Clinical stage. The Phase III Clinical trials were scheduled to commence in March 1999. However, in March, Lilly informed the Company that it was discontinuing commercial development of LY334370 as a result of its recent review of data from an animal toxicology study. Lilly continues to maintain that all data to date continue to support the hypothesis that SSOFRAs represent a new class of compounds that may effectively treat migraine pain via neuronal mechanisms without the cardiovascular side effects associated with products currently on the market, and has informed the Company that it will continue its efforts to develop alternative SSOFRAs with an improved safety profile. (4) The specific receptor subtype that is the focus of this program is confidential to the Company and its collaborative partner or other licensee. (5) The serotonin receptor subtype which is the target of this program is different from the serotonin receptor subtype which is the target of the depression program that is in the Phase I Clinical stage and is different from the serotonin receptor subtype which is the target of the other depression program that is in the Late Preclinical stage. Accordingly, the compound which is the focus of this depression program is not a back-up to the compound which is the focus of the depression program that is in the Phase I Clinical stage or which is the focus of the other depression program that is in the Late Preclinical stage. (6) During the third quarter of 1998, Lilly informed the Company that it would not continue to develop this compound but would instead seek a development partner or licensee for the compound that is the focus of this program. (7) The therapeutic indications that are the focus of Glaxo's program and the status of such program are not known by the Company. (8) While Synaptic is currently conducting this program independently, Synaptic has agreed to reserve the Y2 receptor as a potential target for drugs for the alleviation of pain exclusively for its collaboration with Grunenthal.