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

To: Biomaven who wrote (5753)	2/26/2002 10:57:30 PM
From: Jibacoa	Respond to of 52153

<<today the biotechs were great.>> Yes, the Biotechs did better than the market,but nothing too exciting.<g> ( I saw some livelier % gainers on other market sectors.<g>) Except for GNSC (up 10.94%) and IMNR (up 13.48%) there weren't any other double digits % gainers.<g> Albeit MEDX (up 9.89%) SCIO (up 9.40%) and VICL (up 9.15%) were somewhat close.<g> PHAR (up 11.27%) is not really a Biotech. The shares were up on low volume (14K) in spite of the report today of a wider loss and having received the last $500K payment from AZN. The gain was probably related to expectations of FDA clearance to market the ENOX test that they have developed with AVE to check anticoagulation with LOVENOX. The ELECT trial is supposed to be completed by mid-May and they expect to do 2.5 million tests per year, after FDA's approval.<g> RAGL Bernard

To: Biomaven who wrote (5753)	2/26/2002 11:45:36 PM
From: John Metcalf	Read Replies (1) \| Respond to of 52153

"So what changed between yesterday and today? Biotech (at least my stocks) behaved miserably yesterday given the jump in both the Dow and Nasdaq, whereas today the biotechs were great." When there isn't sector news, you might look at macro news. DJI, S&P, and NASD Comp were relatively flat today. ^DRG was flat. Bond yields were up a little, indicating some selling. A short story, of very limited shelf-life, might be that credit risk and bullish (but inaccurate) news about housing shook some people out of bonds, which will fall in price (rise in yield) in a recovery, or in a credit collapse. Looking at an over-saturated cash money-market, and having just exited bonds, investors bought biotechs (and Value Line to a lesser extent). Tonight, Nikkei is way up again, and the $5 rise in gold from today's New York session is being sustained in Sydney and Hong Kong. Since the bond market is much larger than the equity market, cash raised from bond sales can have a big effect on other markets. Bill Fleckenstein, former SI columnist, used to talk about this kind of action as "moving jello around the plate". Please liberally discount the innuendo in this comment. I don't know an answer to your question; I'm just trying to point in the general direction where an answer might lie.

To: Biomaven who wrote (5753)	2/27/2002 12:53:23 AM
From: Miljenko Zuanic	Respond to of 52153

Seems that MKG clinical trials data on Erbitux are better than one from IMCL. Isn't over until FDA said it is over. Tuesday February 26, 11:41 pm Eastern Time FDA may consider ImClone drug with Europe data-source NEW YORK, Feb 26 (Reuters) - U.S. regulators will consider reviewing ImClone Systems Inc.'s request to market its lead cancer drug if the company resubmits data from its U.S. trial and supplements it with new data from trials in Europe, a source with knowledge of the meeting said. The U.S. Food and Drug Administration on Tuesday outlined what ImClone (NasdaqNM:IMCL - news) and partner Bristol-Myers Squibb Co. (NYSE:BMY - news) would have to do to get the drug, Erbitux, reviewed for approval after the agency refused to consider the drug last year, saying ImClone's trials were insufficiently rigorous. Now regulators say ImClone must compile new documentation from raw data such as CAT scans and have that data reviewed by an independent review council which would determine the extent to which Erbitux is effective, the person said. The regulatory agency recommended that ImClone include in its renewed submission data from clinical trials of Erbitux being conducted in Europe by Germany's Merck KgaA (quote from Yahoo! UK & Ireland: MRCG.F), which holds the rights to market Erbitux outside the U.S.