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 : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: The Fox who wrote (2069)	2/20/2002 12:47:06 PM
From: The Fox	Read Replies (1) \| Respond to of 2515

Published with permission... Since the last Update, there have been more developments in the ongoing ImClone situation. Last week, ImClone responded to Bristol Myers' restructuring request by saying that they are happy with the current structure, denying Bristol their request. This decision was based on the outcome of a meeting of a special committee of ImClone directors#that is, independent directors, or, directors which excluded the Waksals and the Bristol executives on ImClone's board. Bristol subsequently responded to ImClone's response by saying that they will continue to provide full support until the meeting with the FDA, which is scheduled for February 26. So, once again we are in waiting mode. At the meeting on the 26th, ImClone and Bristol will learn exactly what is required for their marketing application for Erbitux for the treatment of refractory colorectal cancer to be accepted, and for Erbitux to ultimately be approved for this indication. Keep in mind, however, that while a further delay could result following the meeting - depending on what the FDA has to say - ImClone could still have the option of filing for approval in head and neck cancer. This is something which hasn't been talked about. In the meantime, ImClone's stock has received some support from the announcement that financier Carl Icahn has filed to acquire up to $500 million of ImClone stock, which represented almost 40% of the company based on last Thursday's closing price of $17.60. It should be noted that ImClone's board has adopted a shareholder rights plan to prevent a hostile takeover. However, this plan would not prevent "an unsolicited acquisition of ImClone," and definitely wouldn't prevent Icahn from buying the $500 million worth of ImClone stock. Things will become much more clear after the meeting with the FDA next week. Let's not forget, however, that above and beyond all that has taken place, we still believe that Erbitux is a very good drug, and will eventually receive FDA approval. This has been the Medical Technology Stock Letter Weekly Update for Tuesday, February 19, 2002. Copyright 2002, the Piedmont Venture Group. All rights reserved. Reproduced by permission from MTSL. The Fox

To: The Fox who wrote (2069)	2/21/2002 3:14:30 PM
From: mact	Read Replies (2) \| Respond to of 2515

Oh, really... Thanks for the suggestion. Unfortunately, the friend of 30 years who might have benefited from C-225 died two years ago. I didn't realize that caring for the patient and investing were mutually exclusive. You are a gem. The Fox It was a mistake to reply to you in the first place...guess i was in a bad mood...sorry for your loss...just find it annoying when people talk about biotech co's in a altruistic way when other motives are at play(but not saying you are one of them)...but let us not kid oursleves, we do not come to these boards because we are thinking of loved ones lost...btw, i am a practicing oncologist and trust me, erbitux is no cure all for cancer...frankly , for the cost, its amazing that drugs such as herceptin, erbitux are used as much as they are...now Gleevac is a different story.....also, the chances erbitux would have made a differnce in your friend is very small...the response rates for erbitux/irinotecan is similar(or perhaps slightly higher) to irinotecan alone...even if erbitux showed a 20% response rate by itself, probably wouldnt show a survival benefit unless the number of pt's tested were well into the 1000's(ie-the benefit would be very small)...immunotherapy is not new...has been around for 15 yrs at least and the results are not good...this is no Gleevac, which works very well for certain rare leukemias and stromal gastric cancers...there are so many steps in the cancer process that i doubt blocking one particular step will ever be a "magic bullet"...also, cancer cells are like bacteria, they mutate and develop new ways to be resistent...maybe im just jaded since i deal with cancer everyday...jmho though.