Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Novoste (novt) -- Ignore unavailable to you. Want to Upgrade?

To: TwoBear who wrote (75)	1/11/2000 9:05:00 PM
From: Silver Knife	Read Replies (1) \| Respond to of 100

I've been lurking for a while. I ran across this article which explains today's rise that I would like to share: Dow Jones Newswires/January 11, 2000 Novoste Inc. Sees 2Q PMA For Restenosis Treatment By RICK JURGENS SAN FRANCISCO -- Results from a clinical trial of radiation to prevent the re-narrowing of arteries, or restenosis, following angioplasty surgery could be ready as soon as mid-March, Novoste Inc. (NOVT) Chief Executive William Hawkins said Monday. Reiterating an earlier timetable, Hawkins said that in any case the trial results should be available no later than early in the company's second quarter. The company expects to file an application with the Food & Drug Administration for premarket approval of the treatment during the same quarter, he said. Johnson and Johnson (JNJ) has completed a test of a competing radiation treatment and submitted its data to the FDA, Hawkins said. Guidant Corp. (GDT) and Boston Scientific Inc. (BSX) are also attempting to bring products to the market, he said. The treatments are used when physical stents are ineffective in preserving the gains from angioplasty, in which a small balloon is used to clean a narrowed artery. Novoste has obtained 55 licenses for its treatment outside the U.S., and hopes to beat the others to the market in the U.S., he said. "We are first in Europe and we expect to be first in the U.S.," he said. In the Novoste study, radioactive treatments were given to 476 patients in April, and follow-up examinations of those patients were scheduled for eight months later. About 80% of the patients have had follow-up examinations, ensuring that there will be sufficient data to complete the study, he said. Hawkins said that the Norcross, Ga., developer of heart and artery blockage treatments finished the third quarter with $48 million in cash and has a burn rate of $7.5 million to $8 million a quarter. -By Rick Jurgens; Dow Jones Newswires; 650-496-1367; richard.jurgens@dowjones.com