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Biotech / Medical : Guilford (GLFD) - Steadily Rising -- Ignore unavailable to you. Want to Upgrade?

To: Jack Hartmann who wrote (364)	8/11/2000 8:51:43 AM
From: sim1	Read Replies (1) \| Respond to of 496

Guilford Perks Up Does this biotech have a blockbuster Parkinson's drug? Not many biotech names have come up of late to capture the Street's fancy. But some pros have plucked one that they think owns a potential blockbuster drug: Guilford Pharmaceuticals (GLFD), whose therapeutic and diagnostic agents focus on a range of neurological diseases, including Alzheimer's and Parkinson's. Its stock, which had been languishing at around 13 a share since mid-April, suddenly perked up in mid-July, to 16. It has since climbed to 19. The reason: Its new drug NIL-A, a novel nerve-regeneration compound that may be useful in treating Parkinson's disease, showed good results in preliminary clinical trials and was all set for a major Phase 2 trial. True enough, on Aug. 7, biotech leader Amgen, Guilford's strategic partner on NIL-A, announced that it had begun a Phase 2 clinical trial to evaluate the safety and effectiveness of the drug. The trial may enroll some 400 patients. ''NIL-A has tremendous potential and could be a blockbuster if the human results are anywhere near the animal models in previous trials,'' says Stefan Loren of Legg Mason Wood Walker, an investment bank with expertise on biotechs. The analyst figures that NIL-A has the potential to produce $1 billion in annual sales. He says Guilford's neuroscience pipeline remains strong, and that Amgen has obtained the license for Guilford's 10 different new drugs, including one for Alzheimer's. He expects a strong flow of news about NIL-A and Guilford's other new drugs this year and in 2001. His 12-to-18-month target for the stock: 45. Analyst Matt Geller of CIBC World Markets is impressed by Guilford's neurological compounds. ''They have the potential to revolutionize the treatment of neurological disorders,'' says Geller, who rates the stock a ''strong buy.'' By GENE G. MARCIAL