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

To: tommysdad who wrote (594)	5/2/2001 12:51:21 AM
From: tuck	Read Replies (2) \| Respond to of 1784

td, Good of you to stop by, sir. You practicing scientists are getting scarce in these parts. DPII sells more big ticket items, and that's where they reported weakness. MCLS, a competitor that isn't trying to sell high throughput chemical synthesis systems, also reported today. MCLS hit numbers and stuck to guidance. Trickle is thus happy with the sale of DPII and the purchase of MCLS so far: >>MediChem Life Sciences Announces Record First Quarter Year 2001 Revenues WOODRIDGE, Ill., May 1 /PRNewswire/ -- MediChem Life Sciences, Inc., (Nasdaq: MCLS - news) today announced record revenues for the first quarter ending March 31, 2001. For the quarter, total revenues increased to $6.2 million, or 37 percent more than the $4.5 million for the same period in 2000. For the quarter, the Company reported contract revenues of $6.0 million compared to $4.1 million for the first quarter in year 2000, an increase of 44%, and milestone and royalty revenue of $0.2 million for the first quarter of 2001 versus $0.4 million for the same period a year earlier. The Company reported a net loss to common stockholders of $2.1 million, or a negative $0.08 per share, for the first quarter of 2001, compared to a net loss to common stockholders of $2.2 million, or a negative $0.29 per share for the first quarter of 2000. For the quarter, EBITDA was a negative $1.6 million versus a positive $0.5 million in the same period in 2000. During the first quarter 2001, the Company recognized the positive effects of a tax benefit of $1.1 million. ``Our record results for the first quarter reflect the continued execution of our strategic plan,'' said Michael T. Flavin, Ph.D., Chairman, President and CEO. ``An example of this is the consolidation of our ThermoGen subsidiary into our new Woodridge Discovery Center, bringing the positive results of maximizing the synergy between our chemists and biologists in protein expression and biocatalysis for drug development and fully utilizing the Discovery Center. MediChem experienced significant growth in 2001 from collaborations and revenues associated with all segments of our business and that growth will continue throughout the year.'' Fiscal Year 2001 Guidance For the full year 2001, we expect to achieve total revenue that is in line with the consensus analyst projection of $26.5 million. The Company's plans call for continued growth and breakeven EBITDA in the fourth quarter of 2001. The Company believes that its current cash resources are adequate to execute its strategic plan. Other Company Highlights: -- MediChem initiated a structural proteomics collaboration with Celgene's Signal Research Division on the three-dimensional structure determination of Celgene's proprietary drug target that regulates certain disease-causing genes. The drug target has been shown to play an important role in central nervous system diseases. -- MediChem expanded its agreement with Pharmacia, adding a team of scientists to perform gram and kilogram-scale synthesis and process development of key intermediates and final products to assist Pharmacia's process development groups. -- Pfizer renewed their annual agreement with MediChem to provide focused combinatorial libraries for its facilities in Japan and Connecticut. This is the fifth year of our relationship with Pfizer. -- After developing the synthetic pathway for Achillion Pharmaceuticals' compound for use against Hepatitis B Virus and HIV, MediChem produced the material at its cGMP facility and delivered kilogram quantities of the anti-viral agent for Achillion's clinical trials. -- A Phase I SBIR grant from the National Institutes of Health was awarded to our ThermoGen subsidiary. This grant is for High Throughput Hydrolase Screening to improve our ability to screen libraries of enzymes utilizing substrates of interest to process research groups at large pharmaceutical companies. -- The Company accelerated deployment of the Emerald BioStructures EmeraldEngine(TM) high-throughput structural proteomics platform, in preparation for anticipated collaborations as well as its own lead discovery programs. About MediChem Life Sciences MediChem ( medichem.com ) is a drug discovery technology and services Company that offers a broad range of integrated chemistry R&D capabilities to pharmaceutical and biotechnology companies. A leader in medicinal chemistry research since its inception in 1987, MediChem has extended its technologies and services through proteomics, biocatalysis, combinatorial chemistry and chemical process development. MediChem's technologies and services are designed to enable its clients to reduce overall development time and costs, and to advance a greater number of discovery and development opportunities through to the marketplace. There will be a conference call at 10:00 a.m. Eastern Time tomorrow to discuss MediChem's first quarter 2001 financial results. A live Webcast of the conference call and a replay will be available in the Investor Relations section of MediChem's website at www.medichem.com . The webcast will be available for a period of 30 days. A telephonic replay of the call will also be available from 12:00 p.m. EST May 2, 2001, until 4:00 p.m. on May 4, 2001, at 888-567-0393.<< I'm falling behind on conference calls, but I'll get to a couple tomorrow and post notes. Cheers, Tuck