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

To: Pseudo Biologist who wrote (4289)	3/9/1998 9:50:00 PM
From: Biomaven	Read Replies (2) \| Respond to of 9719

PB: <<Speaking of new picks and stocks that could do better than you know what, what's the story with Pharmacyclics (PCYC)?>> That happens to be my second-most-favorite stock (with MOGN coming in third). My argument for this one is more gut-feel than for SEPR and MOGN, where I can more easily articulate just why they have a good risk-reward ratio. There are three "stories" at PCYC: Gd-Tex, the radiation sensitizer, Lu-Tex, the photosensitizer, and their laser-as-roto-rooter story. Gd-Tex is the principle reason I like PCYC, even though it appears to be an early-phase company. Although they have only completed a single Phase I/II trial, I am convinced by this trial that the stuff works, will quickly be approved and find a large market, and have little competition. They are giving a presentation on it at the upcoming AAAS meeting: sciencemag.org I won't have a chance to look at the full text of this until I get back from NY at the end of the week. (I had a frustrating day today trying unsuccessfully to get from Boston to NY, with the threat of wind shear eventually triumphing over modern aviation). I think radiation oncologists are just going to love this stuff. It accumulates in tumors, you can see where it accumulates with an NMR, and then you can watch the tumors disappear (or not) also with an NMR. Obviously at this point we don't know that it is 100% safe, but then it doesn't have to be (this isn't allergies you are treating). As for Lu-Tex, it clearly seems better than QLTF's drug. There is more competion here, especially from Miravant, and the market size is fuzzier (for me anyhow). I treat it as a very promising Phase II drug, no more. (Also has a big potential opthalmology market). As for roto-rootering - works great in rabbits is all we know, and it adds a little pizzazz to the story. They should be starting a bunch more Phase II's, which should give them greater exposure. They're just coming out of a quiet period, so we haven't heard much from them directly. They've got lots of cash, some European partners, and I think they'll do very well over the next 2-3 years. I'm sure Squetch has more to add. Peter