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Biotech / Medical : Aphton (apht) -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (93)	12/19/2004 4:40:04 PM
From: zeta1961	Respond to of 95

Tuck, answering your post from the valuation thread..I follow APHT peripherally..I did own it at one time before management turned me off... But..they may be on to something..here's a paper from JCO 2002, in which they published their pancreatic cancer results?whatever happened with that project? I see one pattern..the abstracts you posted on the gastric cancer P2, CRC and now this one on pancreatic..the g17 responders seem to be in the 60% range..the Median Survival of the responders and non is quite striking..could it be possible that in the general population we can expect 60% G17 response..if so..a big IF, they may get better results than the street is expecting.. Zeta Phase II Study of Anti–Gastrin-17 Antibodies, Raised to G17DT, in Advanced Pancreatic Cancer By B. T. Brett, S. C. Smith, C. V. Bouvier, D. Michaeli, D. Hochhauser, B. R. Davidson, T. R. Kurzawinski, A. F. Watkinson, N. Van Someren, R. E. Pounder, M. E. Caplin From the Department of Medicine, Royal Free Hospital National Health Service Trust; Department of Oncology, Royal Free and University College Medical School; Department of Surgery, The Middlesex Hospital; and Chase Farm Hospital, London, United Kingdom; and Aphton Corporation, Woodland, CA. Address reprint requests to Martyn Caplin, MD, Centre for Gastroenterology, Royal Free Hospital National Health Service Trust, Hampstead, London NW3 2QG, United Kingdom; email: m.caplin@rfc.ucl.ac.uk. PURPOSE: The prognosis for advanced pancreatic cancer remains poor. Gastrin acts as a growth factor for pancreatic cancer. We describe the first study of the antigastrin immunogen G17DT in pancreatic cancer. Our aims were to determine the antibody response, safety, tolerability, and preliminary evidence of efficacy of G17DT in advanced pancreatic cancer. PATIENTS AND METHODS: Thirty patients with advanced pancreatic cancer were immunized with three doses of either 100 µg or 250 µg of G17DT. RESULTS: In the whole group, 20 (67%) of 30 patients produced an antibody response. The 250-µg dose resulted in a significantly greater response rate of 82% compared with 46% for the 100-µg group (P = .018). The most significant side effects, seen in three patients, were local abscess and/or fever. The median survival for the whole group from the date of the first immunization was 187 days; median survival was 217 days for the antibody responders and 121 days for the antibody nonresponders. The difference in survival between the antibody responders and nonresponders was significant (P = .0023). CONCLUSION: Patients with advanced pancreatic cancer are able to mount an adequate antibody response to G17DT. The 250-µg dose is superior to the 100-µg dose, and it appears to be generally well tolerated. Antibody responders demonstrate significantly greater survival than antibody nonresponders. Phase III studies are currently underway in order to determine efficacy.

To: tuck who wrote (93)	12/20/2004 4:41:01 PM
From: zeta1961	Respond to of 95

Tuck, found this on the YMB..this makes me uncomfortable..I'm staying away..this co. is not a straight talker..imho.. Zeta >>The Company will be required to pay to Igeneon a termination fee in the amount of $3.0 million if (1) Igeneon terminates the Stock Purchase Agreement due to the Company’s Breach, (2) the Company has failed to hold the stockholders meeting by March 31, 2005, or May 31, 2005 if applicable, or (3) the stockholders do not approve the issuance of the Purchase Shares and the Amendment and there is a Positive Market Adjustment (as defined in the Stock Purchase Agreement).<< From the Stock Purchase Agreement: >>“Positive Market Adjustment” will be deemed to occur if (A) the PC4 Effect less (B) the Market Change exceeds 20%.<< PC4 is the pivotal trial that holds some interest here for most everyone but the race baiters, vinmantoo and turkey too. >>(b) If this Agreement is terminated: (i) pursuant to Sections 9.3(a)(v) and a Positive Market Adjustment has occurred or by the Company pursuant to Sections 9.3(a)(iv) or 9.3(a)(vi), then Buyer shall pay promptly to the Company a termination fee in the amount of US$3.0 million; or (ii) by Buyer pursuant to Section 9.3(a)(iii), then the Company shall pay promptly to Buyer, a termination fee in the amount of US$1.5 million.<< Lots more about "Positive Market Adjustment" but I don't see a "Negative Market Adjustment." It sure looks to me like Aphton is looking towards renegotiation of the terms of the deal if the pivotal trial is successful and the price of APHT stock jumps more than 20%. Just my own speculation. There seems to be no such proviso to protect Igeneon in case of failure. The dates contemplated for closing the deal certainly look to be post-release of the preliminary pivotal trial results.