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Biotech / Medical : Abgenix, Inc. (ABGX) -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (220)	6/2/2003 10:44:21 PM
From: Miljenko Zuanic	Respond to of 590

I love when professional writes something like this: <<One problem: The Erbitux trial lacks a control group or a comparison to conventional chemotherapy, so the study does not show clear survival benefit.>> Like humans are mice! I make me fill well because I as non-professional I can figure out few things on my own without their great help. Message 18996066 While, it is not clear (to me) that in Erbitux CC trial all pts are Irino refractory, it is clear that combination of the anti-egf and Irino does bring survival benefit in refractory CC (4 months in TTT and 30% survival at 12 months). Also, it is clear that Irino is main driver for clinical benefit while anti-egf protects this benefit in some way. As long as we are talking refractory CC. RE: ABGX I sold 1/3 of my ABGX holding. This is not related to disappointing? CC results. It is related to AMGN/ABGX altitude toward ABG-EGF and their current position relative to others competitive candidates in field. Miljenko PS: More when I have poster reprint in hand

To: Icebrg who wrote (220)	6/4/2003 2:18:19 AM
From: Icebrg	Read Replies (1) \| Respond to of 590

Abgenix falls on analyst downgrade Shares of Abgenix Inc. have lost 17 percent since a Wall Street analyst downgraded the Fremont biotech Monday morning. On Tuesday, Abgenix closed down 86 cents at $8.85 - a drop of nearly 9 percent. The company had lost nearly 9 percent the previous day after Patrick Flanigan at Adams, Harkness & Hill cut his rating on Abgenix stock to "market perform" from "buy." The downgrade was spurred by an update given at the 39th Annual Meeting of the American Society of Clinical Oncology, or ASCO, of the company's experimental cancer therapy known as ABX-EGF. The company said the drug has produced encouraging results in mid-stage testing. But Flanigan said he doesn't expect it reach the market until 2006, thereby pushing Abgenix's profitability back to 2008. "We do not foresee any additional catalysts that will lead the stock to outperform the group in the next six months," Flanigan wrote in a note to clients. eastbay.bizjournals.com