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Biotech / Medical : Ionis Pharmaceuticals (IONS) -- Ignore unavailable to you. Want to Upgrade?

To: Art Bechhoefer who wrote (2695)	9/16/1999 9:18:00 AM
From: The Band Leader	Read Replies (2) \| Respond to of 4676

The reaction to the Abbott agreement has been interesting. While the agreement puts a floor under ISIP (Abbott will bail them out of cash flow problems), it probably puts a ceiling over the stock price, too. Reminds me of the Genentech deal where the partner gets an option to buy them out if everything goes really well. Short term, this was definitely one of those buy-on-the-rumor-sell-on-the-news situations. I took some profits.

To: Art Bechhoefer who wrote (2695)	9/16/1999 8:57:00 PM
From: DTselentis	Read Replies (1) \| Respond to of 4676

Most small biotech firms obviously can not afford to put drugs through clinical trials--especially phase 3.In addition they lack the expertise in coordinating and organizing large scale studies.Collaborations are necessary with established large drug firms. But money can be made if phase 3 studies are succesful and lead to FDA approvals. Just look at the Gilead/Roche collaboration for a new flu medication.The flu medication was Gilead's but Roche organized and paid for a massive phase 3 study on the drug.Gilead's stock has been flying due in part to anticipation of approval of this drug--if it is approved Gilead and Roche will share in the profit but it will still make a huge impact on Gilead's bottom line. As for Isis we are still in the dangerous phase of not knowing whether approval will be forthcoming.I am hopeful but statistically only 1 out of 3 drugs that goes into phase 3 gets approved. Wall street has been reluctant to invest in bio companies until appprovals have been granted due to many bad experiences in the past.With Isis, as mentioned by someone earlier in a post, an approval would validate antisense which really could rocket the stock forward.