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Biotech / Medical : QLT PhotoTherapeutics (QLTI) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Anthony who wrote (227)	1/12/1998 12:05:00 AM
From: Joe Stephenson	Respond to of 1321

Michael: At QLT's AGM last Spring in Vancouver, company officials said that they were hoping for profitability by the end of 1998. That was before ODAC's split decision in September for early and late stage lung cancer. I have also heard that photofrin sales in Japan are not yet as brisk as originally projected. Japan is an important market for the company with approval for 5 types of cancer. It's beginning to look as though profit won't be attained by the end of this year, but will likely be achieved some time in '99. As you indicated, a lot interest is now being focused on the ARMD drug where most analysts believe the real money lies. Nonetheless, with the number of cancer approvals so far and with several more expected in the next 12-18 months, solid revenues should be seen here also. The FDA approval will certainly help. I think your friends gave you good advice. You may have to take them out to dinner with your profits. It may take a few months but the best days are still ahead. Cheers, Joe