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Biotech / Medical : QLT PhotoTherapeutics (QLTI) -- Ignore unavailable to you. Want to Upgrade?

To: Im-patient who wrote (698)	10/15/1999 10:29:00 AM
From: Scripts	Read Replies (1) \| Respond to of 1321

Faint praise blamed for QLT's plunge By PAUL BAGNELL AND THOMAS HIRSCHMANN The Financial Post QLT PhotoTherapeutics Inc. (QLT-T) , down $10 to $55.50, on volume of 283,765 shares, and (QLTI-O) , down $6 9/16 to $37 1/2 (US), on volume of four million shares. QLT and a partner said the October issue of Archives of Ophthalmology includes "extensive positive results" from a phase III clinical trial of Visudyne, a blindness treatment the two companies have developed. Neil Bressler, an ophthalmology professor at Johns Hopkins University medical school, called the study a "landmark" that could alter the course of treatment for age-related macular degeneration. But one market watcher said a less than ringing editorial on the treatment in the publication was behind yesterday's dramatic stock plunge. QLT's chief financial officer, Kenneth Galbraith, said he knew of no reason for the share price tumble beyond volatility which is typical in the weeks before the U.S. Food & Drug Administration meets to discuss drug approvals. An FDA panel is set to deliberate on the Visudyne on Nov. 17.

To: Im-patient who wrote (698)	10/15/1999 1:17:00 PM
From: Harry Lewis	Read Replies (1) \| Respond to of 1321

My thinking is only that if that gap were really dangerous to us yesterday would have been the day. We didn't get there (thankfully!)Rememmber, also, that on 9/16 we did test below there (33 1/2 low for the day) and closed at 38 1/4! Let's hope that is the only test we need to live through. As i write, we have bounced better than 2 pts. with the NASDAQ still off more than 48. My guess is we would be bouncing far more were this to be a strong day. Then again, this is far from an exact science, and if the news on 11/17 is not good from the FDA, you can throw all this alchemy out the window. Good Luck.