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

To: scaram(o)uche who wrote (10347)	2/8/2004 10:55:07 PM
From: Miljenko Zuanic	Respond to of 52153

<<REGN? The bench grunts are excellent. To what degree Yancopoulos (and those who report to him) knew about the antibody issue, early? >> They knew about antibody from 1991. From CNTF! They make as (at least me) believe that A has reduced immunogenecity (relative to CNTF), until JAMA article (and PIII data) surfaced. Why they moved A (very low dose) into expensive PIII, regardless knowledge about antibody? It was gamble, pure gamble! They speculated (my opinion) that antibody level and rate will not completely kill drug efficacy (anyway, with very short half-time and questionable penetration into CNS). They should been honest and inform investors early about this gamble, and/or clearly say that A-project IS HIGH risk. This philosophy and approach is common for sector. Rick is probably right that quality of the programs (candidates) improved in last few years. But, we are still far from clean. And it is very hard (almost impossible in some cases) to figure out scams before it is too late. Consequently, investment philosophy changed. Invest in promise, but get out before promise break in half. You may not hit 5 or 10X return, but here 50%… there 40%, and you are doing well, very well. And sector will always have bios with promise. I am not saying there sector does not have bios with real staff, only that real staff (all the way to end) is not very often event. Good program and candidates sometimes got killed by unexpected and surprise events, that anyone can not control or predict. Part of the game. Miljenko