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Biotech / Medical : LEXG-Lexicon Genetics -- Ignore unavailable to you. Want to Upgrade?

To: A.J. Mullen who wrote (172)	11/2/2004 10:41:01 AM
From: D.Lu	Read Replies (2) \| Respond to of 254

3rd Q Conference call: Takeda collaboration in hyper-tension- target selected setting off a $12M payment to be recognized over 3 years. Up to $34 1/2M for each target plus royalties upon commercialization.. Believe Takeda will pay all development costs. 2nd Genentech milestone payment of a similar size from their 2002 alliance in gene knockout in mouse embryonic stem cell line for all proteins in alliance. Internal Biotherapeutics Pipeline. Internally they have 500 knockout analysis not included in the Genetech alliance. Expect completion of these in 3 years. Have already discovered several antibody and therapeutic protein targets. 7th USA patent awarded for gene trafficking. 4th Q guidance -.10 to -.13 with a projected year loss of -.84 to -.87 Questions: Mathew Geller of CIBC asked what are the most important programs and where are they going? Several small molecule programs with LG 653 obesity on track with pre-clinical research on pathway. LG167 project on Alzheimers and cognition mentioned. In the biotherapeutics program Sand noted LG169 antibody for stimulation of T-cell growth. At least 2 other lead programs they are working on have not yet been publicly described. They plan to identify 2 leading candidates by the end of the year and file IND's in 2005. Annabelle S. of UBS inquired about the Takeda alliance. LG105 has not yet triggered the $5.5M milestone but should in 2005. She asked how many more milestones with Genentech. 2 more with 1 in the first half of 2005. Some accounting questions by a Jason ? In context, Sand said they are presently negotiating some sizeable agreements.