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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (1869)	2/13/2002 6:34:52 PM
From: software salesperson	Read Replies (1) \| Respond to of 3202

2/13/02 conference call notes 1. 2002 guidance rev. = 130- 150 m ( database revenues will decrease because of restructuring of payments into new collaborative agreements) expenses associated with db business = 125-130 m expenses associated with therapeutic discovery business = 85-90 m ye 2002 cash balance = 400-420 m 2. 4 q review and goals (i) therapeutic - - hired 30 biologists and chemists; found lab space (ii) db/info- - antibody agreement with dna; dr. reddy’s subscription; settle affx litigation; facilitating co-development agreements (iii) goals - - fuller articulation of transforming db/info revenues into collaborative agreements in may/june business plan update 3. q & a (i) metrics for evaluation for db and therapeutic businesses? - - look at deal flow; expect to in-license in exchange for lower subscription $; also collaborate with chemistry companies (ii) target validation progress? - - inflammation, cancer, metabolic diseases will be focus areas (iii) when will 1st deal occur? - - no direct answer (iv) will focus be on small molecules or proteins? - - small molecules for internal development; proteins for collaboration (v) how are talks progressing with collaborators? - - no direct answer (vi) how much payment from affx? - - no direct answer (vii) what are you spending $ on in db business? - - expanding full-length clones (viii) ind to be filed in 2002 by partners? - - no direct answer (ix) db renewals at similar rates to prior renewals? - - no direct answer (x) ip portfolio update? - - 600 patents full length genes; 12,000 filed 4. impression tough call ; little info; vague plans; audience was pained sales