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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: squetch who wrote (11963)	12/2/1997 8:35:00 AM
From: Henry Niman	Respond to of 32384

Stan, The number of TZD's under development is huge, so if there is a patent issue, it affects many.

To: squetch who wrote (11963)	12/2/1997 8:37:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Looks like AGPH will be hit hard this morning (ask is already down to $34): Agouron and Roche to End Cancer Collaboration; Agouron to Discontinue Development of AG337 Agouron to Discontinue Development of AG337 LA JOLLA, Calif., Dec. 2 /PRNewswire/ -- Agouron Pharmaceuticals, Inc. (Nasdaq: AGPH) announced today that it has agreed to end its collaboration with F. Hoffmann-La Roche (Roche) in the field of cancer. The termination of the cancer collaboration does not affect a separate agreement under which Roche will market Agouron's HIV protease inhibitor in certain international territories. Agouron also said it has decided to discontinue further development of its anti-cancer drug AG337 (THYMITAQ(TM) nolatrexed dihydrochloride) on the basis of its interim analysis of results from phase II/III trials of the drug and in order to concentrate available resources on development of two earlier-stage anti-cancer agents that the company believes have greater commercial potential. Since June 1996, Agouron and Roche have been collaborating on the development of the Agouron anti-cancer drugs AG337 and AG3340, as well as on research into new anti-cancer drugs that target mechanisms of cell cycle control. In the collaboration, Roche has provided technical and financial support for the research and development activities of Agouron in exchange for rights to market resulting anti-cancer drugs. As a result of the agreement reported today, Roche will make a final payment to Agouron; and Agouron will immediately regain all marketing rights to its anti-cancer drugs previously within the scope of the collaboration. Peter Johnson, Agouron's president and CEO made the following statement: "An informal interim analysis of results from the Phase II/III trials of AG337 suggest that while the drug is clearly active as a single agent in the treatment of cancer of the liver and of head/neck, it is not sufficiently superior to alternative therapies to justify the required investment of resources necessary to complete development and commercialization of the drug. At the same time, other development programs in progress or in planning at Agouron have, in our view, demonstrated greater clinical and commercial potential and therefore have a greater claim on resources made more limited by termination of the Roche collaboration. We remain particularly encouraged by the profiles emerging from early clinical studies of our MMP inhibitor AG3340 and our GART inhibitor AG2034, both of which are expected to move into more definitive efficacy trials early next year. We will therefore discontinue development of AG337 and concentrate our resources on these and certain other promising development opportunities being pursued by Agouron. We do not foresee any significant impact on Agouron's financial results for the current fiscal year due to the termination of the Roche collaboration. On a long-term basis, the re-capture of all commercial rights in our entire portfolio of anti-cancer drugs is consistent with Agouron's current commercial strategy and capacities." Agouron Pharmaceuticals, Inc. is an integrated pharmaceutical company committed to discovery, development, manufacturing, and marketing of small- molecule drugs engineered to inactivate proteins which play key roles in cancer, AIDS, and other serious diseases. For further information about Agouron Pharmaceuticals, Inc., please see Agouron's web site at agouron.com SOURCE Agouron Pharmaceuticals, Inc. -0- 12/02/97 /CONTACT: Investor Contact: Donna Nichols, Vice President, Head of Corporate Communications, 619-622-3009; or Media Contact: Joy Schmitt, Manager, Product Public Relations, 619-622-3220, both for Agouron Pharmaceuticals, Inc./ /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 019650/ /Web site: agouron.com (AGPH) CO: Agouron Pharmaceuticals, Inc.; F. Hoffmann-La Roche ST: California IN: MTC HEA SU: DK-JE -- LATU039 -- 4887 12/02/97 08:02 EST prnewswire.com

To: squetch who wrote (11963)	12/2/1997 9:16:00 AM
From: Hippieslayer	Read Replies (4) \| Respond to of 32384

LGND has sent out to Dermatologists a letter from Dr. Richard C Yokum regarding Targretin oral capsules and top. gels for CTCL. LGND also attached the abstract from the June Int. Soc. for CTSL conference in Sydney. LGND, in essence, is asking Derms for patients that might qualify for LGNDs expanded phase 3 for Targ. Gel and PII/III for Targ. capsules. According to the letter from Dr Yocum ( he is the medical director of clinical research) LGND has 25 study centers in the us and Canada and will be expanding studies in Europe and Australia.