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

To: Michael Young who wrote (14668)	12/14/2004 12:53:02 PM
From: Ian@SI	Respond to of 52153

Mgmt seems quite confident that Eligard (6 months) will be a major success. Both patients and doctors like the idea of fewer treatments. The rest of the Atrix pipeline seems as if it's ignored by the market. QLT's analysis of the publicly available Macugen data raises serious questions as to whether Macugen is effective period, let alone better than Visudyne. From what I understand, Macugen does nothing to get rid of existing abnormal blood vessels. It stops further growth. To remove the existing abnormal vessel, only Visudyne has shown any effectiveness. In any case, even if all of the above is the gospel, the market can favour EYET for a very long time before accepting that relative valuations may be out of whack. I think there's a double in QLTI. I doubt that there will ever be a double in EYET. I intend to be very patient with this one. Ian