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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (1683)	9/18/2000 10:03:05 AM
From: aknahow	Respond to of 52153

Peter, as briefly as possible this is what is going on. The market which had been paying attention only to the anti cd11-a, psoriasis drug of DNA, being developed by XOMA was energized by the publication of the Neuprex P III trial results in The Lancet on 16 Sept. On line on 14 Sept. Controversy over what the results showed, of course exist. Full article not on line. But for many longs, the results were much better than expected and there are reasons to believe that the 6 hour delay in giving the treatment drug and or placebo, diminished the results. Even if one does not agree, the trial was done under Subpart E and the decision of the FDA is being appealed and or approval will probably be sought in the U>K. Appears the U.K. press and medical community backs this. (my reading) In addition XOMA in partnership talks for 3 products. Only one is big deal. (IMO) Mycoprex, a peptide derivative of BPI. Talks have gone on for years. European partner interest just mentioned recently. Xoma plans on taking anti cancer drug into clinic by end of year. ING-1 Early trials. IMO not really a big deal, but nice. Baxter has chosen the next indication for Neuprex and plans to take it into clinic by year end or early 2001. Could be P III trial at worst P II. Also in and of itself not a big deal except that going into clinic might force disclosure of potential milestones for the indication and thus prove to be key to unlocking the meaning of the "agreement" that exist with Baxter/XOMA. The fly in the ointment is XOMA apparently does plan to sell more stock. When? How much? Price? Don't know. But as much as I hate this idea, there is a lot of potential for interesting news to occur in the next three to four months. Check any patent listing for XOMA to see why BPI, LNP and the peptide products have potential applications in many areas and for use in combination with other products. LLY applied for patent stating that its Zovant or its' form of protein C would work better when combined with BPI. This was based on the scientific literature and not on any actual test of the combination. But still they said it and it provides an indication of how Neuprex might be sought for combination with many other drugs.