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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (1163)	10/22/1999 2:28:00 PM
From: Casaubon	Respond to of 9427

someone recently spoke about BGEN and how sad they were to sell it, just based on the technical behavior (ie P&F sell siganl) =DJ Biogen Halts Trials; Shrs Fall Sharply After-Hours >BGEN By Anthony Palazzo (This story was originally published late Thursday.) LOS ANGELES (Dow Jones)--Biogen Inc. (BGEN) shares fell sharply in after-hours trading after the Cambridge, Mass., biopharmaceutical firm said it halted several patient trials of its anti-CD40 ligand monoclonal antibody compound due to adverse "thrombo-embolic" events. Biogen shares were halted for nearly an hour after the news was announced. Then they fell as much as 11 points in after-hours trading from its close of 72 9/16, according to market sources. Later, Biogen recovered a bit to about a 10-point decline, which would put the price at around $62 and change per share. "This caught everybody by surprise," said Akhtar Samad, senior biotechnology analyst with Oscar Gruss & Son Inc. Nevertheless, Samad said, he will maintain his buy rating on the stock. "We see this event as a major setback only for those Biogen investors who were unrealistically expecting all the indications being pursued with Antova (the drug candidate's name) as being realistically achievable," he said. Biogen halted studies of the drug in the treatment of multiple sclerosis, islet cell transplantation and Factor VII inhibitor syndrome. Patients already receiving the drug after kidney transplants will continue treatment, as can patients with a rare blood disorder, immune thrombocytopenic purpura. Biogen is in talks with the Food and Drug Administration on whether to continue a trail involving lupus patients. The problems aren't expected to end Biogen's Antova program altogether. However, one of Antova's two largest potential markets, multiple sclerosis, won't be realized, and the other large potential market, lupus, is in doubt. Samad said he's spoken with Biogen officials and they're in active discussions with the FDA on whether to continue pursuing a lupus indication. "Over the next couple of days investors will slowly but surely realize that there is still room for optimism in the Antova program," Samad said. "It's simply a matter of walking through the data analysis and picking judiciously through the indications." -By Anthony Palazzo; Dow Jones Newswires; 323-658-3776; tony.palazzo@dowjones.com (END) DOW JONES NEWS 10-22-99 08:15 AM Noone will ever be able to convince me that stuff like this is not a result of insider information. The insiders have the info fisrt and the public gets the shaft. JMO