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

To: zeta1961 who wrote (70)	6/9/2004 1:05:24 PM
From: tuck	Read Replies (2) \| Respond to of 802

>>NEW YORK, June 9 (Reuters) - Shares of Introgen Therapeutics Inc. (NasdaqNM:INGN - News) fell almost 9 percent on Wednesday after an analyst downgraded his recommendation on the stock amid concern the company's experimental cancer drug may face more hurdles than previously expected. Navdeep Jaikaria, an analyst at Rodman and Renshaw, downgraded his rating to "market perform" from "outperform." The move followed last weekend's annual meeting of the American Society of Clinical Oncologists at which data was presented suggesting that ImClone Inc. (NasdaqNM:IMCL - News) drug Erbitux may prove effective in treating head and neck cancer, which would pose competition to Introgen's cancer drug Advexin. Competing drugs may also prevent Introgen from enrolling patients in late-stage trials as quickly as the company had hoped. "Management has not been very transparent in terms of the enrollment status of the Phase III trial," Jaikaria said. His views echo those of Joseph Pantginis, an analyst at JB Hanauer & Co., who downgraded his recommendation last month on concern about enrollment and worries about the company's financial position. "There's potential for a cash crunch," he said. "They only have five or six quarters of cash left." Shares of Introgen were down 51 cents, or 8.5 percent, to $5.52 in morning trading on Nasdaq.<< Cheers, Tuck