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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: the eagle who wrote (683)	2/17/1998 6:49:00 PM
From: David Cathcart	Read Replies (2) \| Respond to of 1826

Eagle, Now that Salagen is approved for Sjogren's, the outlook is ever bright for a revenue stream at MGI Pharma for the next few years. IMO however, for this investment to really pop in the near term, a well structured European deal will have to be completed for MGI 114. From what the company has said, there will be a phase II trial for MGI 114. The remaining question is who will pay for it. We know that the National Cancer Institute will pay for part of it. But we also know that MGI Pharma wants to conduct their own trials to target specific tumor types not addressed by the NCI. I'm glad they are planning to do that but it will cost money. Until the European deal is completed, the phase II cost concerns could hold the stock price down. Blitzer has said not only that the European partnership deal will happen, but that the revenue from it could pay all the expenses for the phase II trials. If that happens we've got one hell of a package: strong revenue and profits from Salagen, a potential blockbuster cancer drug in phase II trials, and someone else paying all the bills. Too good to be true? I don't think so. David

To: the eagle who wrote (683)	2/17/1998 8:00:00 PM
From: seminole	Respond to of 1826

eagle <<< one thing that i think is very significant is that nci interest in this new drug. i understand that nci does not even get involved unless it is a very promising drug. could someone comment>>> The NCI's involvement is very significant. I believe their funding resulted from their own in house appraisal of MGI 114. The NCI originally rejected Illudin S, years earlier, due to its high toxicity, but the lower toxicity and successful mice model work must of caused a dramatic change in their opinion of this class of compounds. I expect dramatic new data to be presented by MGI in April at the American Association for Cancer Research. (I hope for a complete review of the Phase I trails including the current patients) richard