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

To: Biomaven who wrote (8833)	7/16/2003 11:23:27 AM
From: tom pope	Read Replies (1) \| Respond to of 52153

FWIW, Ron Garren sold half his portfolio's ALT position last week, saying the test results were too aleatory to call.

To: Biomaven who wrote (8833)	7/17/2003 8:41:47 AM
From: tom pope	Respond to of 52153

Good one, Peter Alteon hypertension drug fails to meet main goal Thursday July 17, 8:22 am ET NEW YORK, July 17 (Reuters) - Alteon Inc. (AMEX:ALT - News) said data from a large mid-stage trial of its hypertension drug failed to meet its main goal of reducing uncontrolled high blood pressure by a statistically significant amount. ADVERTISEMENT The Ramsey, New Jersey-based biotechnology company said the drug, known as ALT-711, did not demonstrate statistical significance compared to a placebo in reducing systolic blood pressure as measured by cuff pressure at the highest of four dose levels, or 210 milligrams a day. At lower doses, however, some patients did appear to benefit, the company said. Alteon said it is considering conducting a trial to test the drug at a lower dose. If the trial confirmed signs of efficacy at the lower dose, the company would enter into a late-stage trial at a lower dose. Still, the results represent a setback for Alteon, as the drug is the only product in its pipeline that's even close to reaching the market. The hypertension market comprises some 13 million patients who are controlled by existing medication, and about 37 million whose condition is uncontrolled. ALT-711 is designed to address the limitations of current hypertension medications.