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

To: Vector1 who wrote (725)	2/21/1998 7:08:00 PM
From: David Cathcart	Read Replies (1) \| Respond to of 1826

V1, <<I am in MOGN because of Salagen.>> Salagen has a great future with the new approval for Sjogren's. However, I don't think one should invest in MOGN for Salagen unless they asses the value of both MGI-114 and Blitzer's abilities to manage that asset. Like it or not, MGI-114 is part of the package and Blitzer is going to manage it. I've looked at both carefully and I like what I see. I don't look at MGI-114 as a cure for cancer, I look at it as an asset. An investor should look at the MGI-114/Blitzer package, decide if it is a plus or minus, and then factor that into the equation. At this point, Salagen has company in the MOGN equation. <<MGI 114 is a lottery ticket.>> It's a long shot but it is not a lottery ticket. Lottery tickets cost money. MGI-114 is free at the present price per share of MOGN. With lottery tickets, chances are you are going to loose your entire "investment." At the present price of MOGN, you get the upside potential of a lottery ticket, though at considerably better odds, without the downside risks. Do I expect MGI-114 to be approved? Of course not. I know the odds. However, in the right hands, MGI-114 remains one incredible asset. If managed properly, MGI Pharma can remain in the position to win if MGI-114 does, at no cost to the investor. <<Cancer is one tough disease.>> It is. I know this very well, trust me. Please don't misunderstand anything that I may have said on this thread to think I take the disease lightly. <<My hope is that the company enters into a collaberation which eliminates the burn and keeps some significant upside.>> If you mean the European deal, Blitzer has said that this will happen. He knows more about MGI-114, the progress in the trials, negotiating and the state of the negotiations than me or (likely) anyone who posts on this thread. I think everyone would be well served to do their own research and look into Blitzer's background and make their own assessment regarding his integrity, his leadership, his knowledge of the industry and his ability to make deals. <<If this [collaboration] happens and Salagen sales grow we will have a double digit stock before the end of the year.>> I would agree. However, I actually expect to see a double digit stock figure when the deal happens. Risk will be greatly diminished and the MGI Pharma story much more easily understood. Let me say one more thing regarding MGI-114 and how it factors into the MGI Pharma story. In December Blitzer said that MGI Pharma is a niche drug company and would never go out looking for another MGI-114. MGI-114's are too difficult to find and too expensive to develop. MGI-114 was found and developed under former leadership. MGI Pharma's strategy will be to acquire already developed niche drugs that are either at or near the point of generating revenue. [Needless to say, if MGI-114 hits big, MGI Pharma will likely rewrite their business plan.] Blitzer sees something of incredible value in MGI-114 and is using his experience and ability to maximize that value to MGI Pharma and its shareholders. Some investors may think he should sell the drug outright and stick to Salagen and the niche strategy. However, all investors need to accept the fact that Blitzer is keeping MGI-114 and moving forward. Investors should asses whether or not they like that strategy and invest accordingly. David

To: Vector1 who wrote (725)	2/22/1998 12:07:00 AM
From: Biomaven	Read Replies (2) \| Respond to of 1826

V1: Here's a new (I think) abstract on MG-114's mode of action: Effects on DNA integrity and apoptosis induction by a novel antitumor sesquiterpene drug, 6-hydroxymethylacylfulvene (HMAF, MGI 114). 6-Hydroxymethylacylfulvene (HMAF, MGI 114) is a new alkylating antitumor sesquiterpenoid with promising and often curative antitumor activity in vivo. That's the part I understood and liked. Here's the rest of it: ncbi.nlm.nih.gov Significance anyone? In your post you wrote: <<Numerous compounds have shown great promise in Xenotransplanted tumors in immunosupressed mice only to fail in human clinicals. >> Could you point us to some actual examples? Were the failures because of toxicity or lack of efficacy or both? Peter

To: Vector1 who wrote (725)	2/25/1998 9:25:00 PM
From: David Cathcart	Respond to of 1826

V1, <<Numerous compounds have shown great promise in Xenotransplanted tumors in immunosupressed mice only to fail in human clinicals.>> I wonder how many compounds with the virtually unprecedented promise of MGI-114 have made it to phase II? If I remember correctly, the odds of a drug being approved once it reaches phase II are 1 in 10. So, if MGI-114 has a 1 in 10 chance of being approved, we have a 10% chance in a "sky is the limit" investment. The 90% probability that MGI-114 will fail is nicely protected by the promise of Salagen, which should give us 2 to 3 fold appreciation in the share price. The late Jim Valvano (sp?), the NC State basketball coach that led his team to the national championship in the early 80's, stated that his goal was always to keep his team in the "position to win." The promise of Salagen allows an investor the rare opportunity to invest with strong assurance of robust capital appreciation, while remaining in the "position to win," and win big, if MGI-114 is approved. Like you, I like Salagen. Like Richard, I like MGI-114. The combination is greater than the sum of the parts. I like MGI Pharma. David