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

To: OldAIMGuy who wrote (4603)	9/4/2001 5:31:09 PM
From: Biomaven	Read Replies (2) \| Respond to of 52153

Novoste crashed today. See my comment back in January - looks like my few year window was likely generous: Message 15279495 Novoste's stock slides after J&J news By Ted Griffith, CBS.MarketWatch.com Last Update: 5:07 PM ET Sept. 4, 2001 NORCROSS, Ga. (CBS.MW) -- Shares of Novoste plunged 45 percent Tuesday after Johnson & Johnson announced a success with a treatment for blocked arteries that would compete with Novoste's technology. FRONT PAGE NEWS Nasdaq rally fizzles; Dow ends a touch higher Hewlett-Packard to buy Compaq for $25 billion After-hours to begin as techs falter AOL Time's online ad share holds steady Market news and more! Sign up to receive FREE email newsletters Get the latest news 24 hours a day from our 100-person news team. Shares of Novoste (NOVT: news, chart, profile) tumbled $8.23 to $10.02. The sharp slide followed Johnson & Johnson's announcement that its new cardiovascular device coated with an antibiotic showed "great promise" in preventing arteries from blocking up again. After more than six months, patients who had received J&J's Cypher stent had no "re-blockage" of arteries, the health care giant reported. Stents are small metal tubes used by surgeons to prop open arteries. See full story. Norcross, GA.-based Novoste has developed a treatment for restenosis -- or reclogging of arteries -- that relies on radiation. Analyst Daniel Lemaitre at Merrill Lynch said Novoste stock was bound to suffer after J&J had such success in preventing restenosis. In a note to clients, Lemaitre said investors were re-evaluating the prospects of Novoste's therapy "in light of a possible 'cure' for restenosis." Shares of Johnson & Johnson (JNJ: news, chart, profile) jumped $3.44, or 6.5 percent, to $56.15. Peter