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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (4278)	3/9/1998 12:16:00 PM
From: Pseudo Biologist	Read Replies (2) \| Respond to of 9719

V1, the Scientific American issue on gene therapy is the June 1997 one. One of the articles is written by a Vical scientist. It is a very readable and useful series. I agree with your general analysis, but one has to realize that Vical itself is pursuing, and funding, a very small number of projects. I happen to have here a recent report (2/11/98) by Maykin Ho of Goldman Sachs. She sees their current cash position of $44 mill lasting for four years; Vical had a net loss of about $6 mill in 1997. The bad news, of course, is that Vical will not reap most of the rewards on genetic vaccine work as they have given a lot of the potential away to Merck, Pasteur Merieux, etc. My main concern is lack of tangible progress in the clinic. I am not too excited about the Allovectin and Leuvectin products; seriously doubt they will show impressive results. But I would love to be proven wrong. PB

To: Vector1 who wrote (4278)	3/10/1998 5:31:00 AM
From: Rocketman	Respond to of 9719

I think Gene Therapy is one of those when, not if, technologies, but it isn't there yet. I also expect that success will happen in a quantum leap. However, quantum leaps are fickle and don't always happen when and where you expect. Look at PCR development or the Dolly cloning for a good example of quantum leaps coming out of the blue. I'm just not inclined to play venture capitalist with technologies that are still way in the research stage and not ready for prime time development and market revenues in a forseeable time frame. Gene therapy will have its time yet, but I'm willing to wait to see how it fleshes out. Rman