To: Money Mood who wrote (1052 ) 3/4/2000 3:24:00 PM From: Cacaito Respond to of 1386
Pharmos phase II already released results from cohort-1(75 mg) and cohort-2(150 mg), these results showed good trend to decrease mortality (no statistical significance due to sample size) and showed decrease morbidity as measure by faster recovery, less disability at 6 months (statistically significant). The phaseII-cohort-3 (200 mg)is the group results are pending, the recruitment is completed and the follow up of the few last patients is almost ready (maybe ready). These are the results that are expected by the market. Pharmos is ready to start (maybe it did?)the definitive phaseII/III (in my view expect it to last 18 to 36 months to completion)with 30 multinational centers and expect it to cost some $15 to $30 millions, if a partner is found along the way to finance a larger (more centers)faster study a lot of things could changed for good. Pars starts on their own, so they will end up with a bigger piece of revenues, more leverage for negotiations, but along the way they could pick up a partner and the phaseII/III evolved on the go into a full fledge PHASE III (Pharmos plan, not my opinion). Of course, many other possibilities on the way, partners for the Tamoxifen-metabolites, partner dexanabinol for stroke indication and that way start other studies that spread risk of failure (decrease risks with multiple indications-studies on the way)emulsones... Please, notice that many are my rosy views on the long term future and that I am currently out waiting for a second entry point, since a lot of recent rise is due to the hot biotech wave. I do believe a lot on Pharmos, but I am waiting to entry with the full data out (if at all). My long term position (almost 3 years)is now sold.