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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: aknahow who wrote (5238)	1/3/1998 5:08:00 PM
From: Robert K.	Read Replies (1) \| Respond to of 17367

That 4-6 million is not fact. Pure guesswork on my part. I am thinking that they got 20 million for expenses not milestone. Really not sure who is correct. Perhaps a reason for the faq delay is financing. Again pure guesswork. A while back they put out a PR with a "possible financing " in the future. It happened the next day. PR was probably prewritten and was on hold then. Might again be the case. Might be something else. I do think the company is dragging its feet on something but Ellen might dispute that :-) btw-Ellen those Posters? btw-Nice site on yahoo, thanks, I invited them over here, some fresh ideas, btw-since we did the beer topic, how about--who is the prettiest woman alive? (the woman can do if they prefer)

To: aknahow who wrote (5238)	1/3/1998 5:08:00 PM
From: Arthur Radley	Read Replies (1) \| Respond to of 17367

Interesting article in the current Worth magazine on biotechs. Article mainly quotes Alan Carr, President of H & Q Capital Management and David Molowa, Bear Stearns analyst. Carr estimates that 150 biotechs are in late-stage phase III trials and conservatively projects that 1/3 will be approved in next 18 months. Molowa has a grid showing that Phase III trails are 1-4 years duration costing an average of $53 M and that 45% end in failure. Carr has a disturbing comment that directly relates to Xoma. Quoting the article....Carr also prefers to invest in companies that pursue multiple lines of research and that target conditions caused by a single known factor. "We try to avoid investing in therapies for multifactorial diseases like septic shock," he explains. "They are very complex, and the ability to intervene at one point with a cure is not often that apparent." He is probably correct but if Xoma gets it right just think what a winner it will be!