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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?


To: Andreas Helke who wrote (20070)5/5/1998 9:38:00 AM
From: Henry Niman  Respond to of 32384
 
CNBC just indicated that ENMD's compounds could be in the clinic in 18 months. If you want more ENMD, I suspect that selling today in the 40's and buying back in a few days will double your number of shares.



To: Andreas Helke who wrote (20070)5/5/1998 10:07:00 AM
From: tonyt  Respond to of 32384
 
Looks like a lot of 'sour grapes' are on the vine today!



To: Andreas Helke who wrote (20070)5/6/1998 10:44:00 AM
From: Henry Niman  Read Replies (2) | Respond to of 32384
 
As I said yesterday, the easiest way to get more ENMD is to sell in the 40's and buy back a few days later when its in the 20's. ENMD is getting close and here's another reason why:
History Shows New Cancer Drugs Often Fall
Short in Human Testing

By Rick Weiss
Washington Post Staff Writer
Wednesday, May 6, 1998; Page A03

The two experimental cancer drugs whose ability to shrink tumors in mice
triggered a stampede of interest earlier this week are unlikely to have a huge
effect on human cancer if experience with similar drugs is an indication,
several experts said yesterday.

More than a dozen similar drugs have been in human clinical trials for
several years now, researchers said. Those drugs use the same
cancer-fighting strategy used by the new drugs, and they too looked very
promising in mice. But after years of testing in people, none has yet lived up
to the hopes generated by the animal experiments.

Drugs of this class differ from standard cancer therapies because they cut
off the blood vessels that feed a tumor, rather than attack tumors themselves
-- an approach that in theory could have more lasting efficacy while causing
fewer side effects.

But of the compounds for which preliminary human data are now available,
most have triggered troubling side effects. And although it is still too early to
know how effective they may prove, no researchers have reported any
evidence of the immediate and dramatic effects that so impressed scientists
who tested them initially in mice.

To many scientists, that suggests that the newer drugs, though perhaps
better than older versions, will not be the last word in cancer therapy.

"This is not the first time we've been able to take mice with large tumors and
cure them," said James Pluda, who oversees research on these kinds of
compounds for the investigational drug branch of the National Cancer
Institute (NCI). "We have to remember that the field of oncology is littered
with the bodies of therapeutic agents that were going to be the next cure."

The drugs, called endostatin and angiostatin and under development by
Rockville-based EntreMed Inc., were featured Sunday in a New York
Times front-page story about promising results in mice. In that story, James
D. Watson, a world-renowned molecular biologist, predicted that the scientist
who pioneered the new drug strategy would cure cancer within two years --
a comment that inspired some readers but infuriated others.

"In my assessment, to be mild about it, that is an exaggeration," said Anton
Wellstein, the professor of pharmacology and medicine at Georgetown
University's Lombardi Cancer Center who heads a program that regularly
reviews research on such drugs, called angiogenesis inhibitors.

Seminal studies in this approach to cancer began decades ago, Wellstein and
others said, and human trials were already underway in the early 1990s.

"None of those are in the clinic [for patients] yet, which tells you something,"
said Barry Meisenberg, director of the University of Maryland's
Greenebaum Cancer Center in Baltimore, where some of the compounds
have been studied.

Muscle inflammation, skeletal stiffness, loss of sensation in the limbs and
brain cell toxicity have been among the drugs' unexpected side effects. In
some cases, those effects forced researchers to limit doses to levels they
believe are too low to get any therapeutic effect.

The new compounds do appear to be more potent than previous ones, Pluda
said, and there is always hope they will cause fewer problems.

Yet there are many reasons to remain less than overwhelmed, said Edward
Sausville, chief of developmental therapeutics at the NCI. For one thing, they
showed their strongest effects against a kind of tumor (called Lewis lung
cancer) not found in people, and lesser effects against human tumors.

"Let's be honest," Sausville said. "The Lewis lung cancer model is a mouse
tumor model growing in a mouse, and its relationship to any human tumor is
not clear. And when these compounds were tested against human tumors in
mice, the response has been very heterogeneous. So the efficacy issue is a
problem."

Another concern is that tumors often figure out alternative ways to get what
they need. "Realistically speaking, tumors have a variety of ways of getting
around inhibitors and can use other factors to revascularize themselves," said
Robert J. Tressler, associate director of cancer biology at Chiron Corp. in
Emeryville, Calif. "The hype on these drugs is problematic. These are simply
additional pieces that are going to be placed in the armamentarium."

A third potential problem is that the drugs may interfere with useful blood
vessels. "We have to be very cautious that in our rush to inhibit or disrupt
these processes that we maintain other blood vessels in a stable state," said
Pluda.

Encouragingly, mice have not suffered such problems, Pluda said. But
nothing will be certain until human trials begin, probably some time next year.

Others noted another potential complication: Unlike synthetic angiogenesis
inhibitors, which are manufactured in pure form, the two new ones are
proteins made inside genetically engineered yeast. That means a complex
purification process will be needed to make batches clean enough for use in
people. Other drugs have cleared that hurdle, but it is "not a trivial task,"
Wellstein said, to satisfy the Food and Drug Administration that an
engineered drug is fit for human consumption.

So why all the excitement? In part it's honest enthusiasm about drugs that
genuinely look at least incrementally better than previous ones, experts said,
but there is also an element of caprice.

"There are a series of fads in cancer research that come and are hot, and
then invariably cool off, and this is another one of those," said David Van
Echo, head of the new drug development program at the University of
Maryland Medical School. "These [new drugs] certainly represent a new
angle and hopefully they'll offer a new adjunct to existing therapies. But I
would bet that by themselves, as single agents, they won't be a cure for
cancer."



To: Andreas Helke who wrote (20070)5/7/1998 6:31:00 AM
From: Henry Niman  Read Replies (2) | Respond to of 32384
 
I suspect that the ENMD price will move into the 20's today, right on schedule. Here are more reasons:
- A potential treatment for cancer that kills tumors by starving them of their blood supply is being tested on humans by doctors at the University of California here, researchers said today.
ÿÿÿÿ Meanwhile, British doctors and a Swedish-American medical company said they expect to begin human trials of another new cancer drug, Combretastatin, later this year.
ÿÿÿÿ Both drugs are alternatives to angiostatin and endostatin, other drugs which attracted worldwide interest this week after tests in the United States showed they completely wiped out tumors in mice.
ÿÿÿÿ Unlike conventional treatments that target the cancer cells themselves, all four drugs "starve" the cancer by selectively damaging blood vessels that supply the cells with the oxygen and nutrients they need to survive and grow.

Researchers Urge Caution
Two of the scientists caught up in the uproar over angiostatin and endostatin tried to damp down the frenzy on Wednesday.
ÿÿÿÿ The developer of two of the drugs, Dr. Judah Folkman, canceled a planned appearance at a prostate cancer seminar when he learned television cameras would be there.
ÿÿÿÿ And Nobel laureate Dr. James Watson made public a letter to The New York Times, whose story on Sunday sparked the frenzy, in which he denied making highly optimistic comments which the story attributed to him.
ÿÿÿÿ The Times report that the drugs had starved cancers in mice by cutting the blood supply to the tumors boosted shares in the Rockville, Md.-based company backing the drugs, EntreMed Inc.. Calls poured in to the company, to Folkman and to the National Cancer Institute.
ÿÿÿÿ Folkman, of Harvard University and Children's Hospital in Boston, said people misunderstood what role angiostatin and endostatin might play in the battle against cancer.
ÿÿÿÿ "However they will be used, they will be added to chemotherapy and radiotherapy and gene therapy and immunotherapy and vaccine therapy," Folkman was quoted as saying by the Boston Globe. He has stressed that the drugs had worked only in mice. "It's got a ways to go in people, but there is hope to get there," he said.

In Trials Since September
The drug being tested at the Jonsson Comprehensive Cancer Center at the University of California, Los Angeles, has been in Phase I trials on 30 patients since September.
ÿÿÿÿ Called SU5416, the drug developed by Redwood City, Calif.-based Sugen Inc., is an angiogenesis inhibitor, which like other recently publicized treatments, completely wiped out tumors in mice, researchers said.
ÿÿÿÿ Oxigene, a Swedish medical technology company that last year moved its headquarters to Boston, said it would start clinical tests of the other drug, Combretastatin, in September.
ÿÿÿÿ Combretastatin is a manmade derivative of the extract of the African Bush Willow. It was discovered by Professor Bob Pettit, of Arizona State University, which has licensed it to Oxigene.
ÿÿÿÿ Phase 1 trials of Combretastatin will be held at Mount Vernon Hospital in Middlesex, England; the University of Pennsylvania Cancer Center; and the University Hospital of Cleveland, Ireland Cancer Center.

Phase I First Step
Phase I trials are aimed at determining dosage, side effects and a schedule for treatment. Subsequent Phase II and Phase III trials study how effective the drug is at treating cancer.
ÿÿÿÿ The competing angiogenesis inhibitor drugs from EntreMed, angiostatin and endostatin, are at least a year away from being tested on humans.
ÿÿÿÿ But doctors at UCLA are already encouraged by early trials of SU5416 on humans.
ÿÿÿÿ "We are very excited about this experimental treatment," UCLA's Dr. Lee Rosen said today. "In the lab, SU5416 made all kinds of tumors shrink or die, no matter where in the body they were. We're hoping for exactly the same results in humans."
ÿÿÿÿ The drugs are among more than 300 new treatments for cancer being tested, ranging from those that directly target tumors, to vaccines that turn the body's defenses against tumors, to gene therapy that aims to stop cancer at the most basic level.
ÿÿÿÿ Since cancer cells divide much faster than other cells in the body, they need more nourishment from blood to stay alive. Blocking that blood supply kills the tumor.
ÿÿÿÿ The process of growing arteries is called angiogenesis, so the drugs are known as angiogenesis inhibitors.
ÿÿÿÿ "This drug made tumors disappear in mice, and we're very hopeful, but it's very far away from being the miracle cure for human cancers," Rosen said of SU5416.
ÿÿÿÿ Rosen said the New York Times article published Sunday about EntreMed's angiogenesis inhibitors unfairly painted those drugs as a miracle cure.
ÿÿÿÿ "The fact that (angiostatin and endostatin) were reported as a miracle cure and we're going to cure cancer in the next couple of years was a tremendous overstatement," Rosen said. "It did a terrible disservice to patients and their families."

Encouraged Nonetheless
"I'm very encouraged. We are beginning to see things that are clinically meaningful but we're not curing cancer right and left yet," Rosen said of the Phase I trial, adding that side effects so far were minimal.
ÿÿÿÿ At this early stage, however, Rosen cautioned that the drug may not be as effective as early trials suggest-like many other cancer treatments that have failed to prove effective.
ÿÿÿÿ Rosen said patients should be wary of studies that talk of curing cancer in mice, which are much easier to treat than humans.
ÿÿÿÿ "Mice have shorter lives, so you can see results very quickly," he said. "You start with mice because it's better to kill mice than humans."



To: Andreas Helke who wrote (20070)5/7/1998 6:49:00 AM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
Here's what WSJ had to say about other anti-angiogenesis approaches:
The Wall Street Journal -- May 7, 1998

Heard on the Street:

Investors Hunt for Small Stocks
With Cancer Projects in the Lab

----

By Michael Waldholz
Staff Reporter of The Wall Street Journal

The investor frenzy this week over news of promising treatments that eradicated tumors in mice has sent Wall Street hunting for other small-stock companies whose innovative but little-known efforts to attack tumors may be equally impressive.

But, science researchers and savvy analysts say that while there are many other fascinating projects in the works, they expect investor enthusiasm to wane as it becomes clear that all the projects face large challenges before they become useful treatments.

Investors sent shares of the previously obscure and thinly traded EntreMed Inc. into a high-altitude roller-coaster ride on the Nasdaq Stock Market following a report in the New York Times that two of its experimental drugs eradicated tumors in laboratory mice and that human tests of the drugs might begin in a year or so.

All week, many cancer experts, and even the company and its scientists, tried to calm public excitement by saying the research is much too early to speculate whether it will work as well in people. And yesterday EntreMed shares cooled a bit for the second day, closing down 28%, or $12, to $31.125 after having jumped on Monday to as high as $85 from about $12, before closing that day at $51.8125.

But securities analysts and cancer scientists, as well as publicity machines cranking out news releases all week for other small biotechnology companies, were quick to note that there are perhaps two dozen or more small and large-sized drug makers pursuing tumor-fighting agents that are as impressive as those produced by EntreMed.

Some of these companies have already conducted animal tests of their experimental therapies, and others are already trying out their products in early human trials. Like EntreMed's agents that kill tumors by cutting off their blood supply, the other companies are employing strategies that also are intriguing, unusual and daring, especially since they all use methods that significantly differ from standard chemotherapy or radiation, which can often produce side effects as troubling as the disease.

"There are many promising efforts [against cancer] going on in numerous biotechnology companies these days," said Viren Mehta, a biotech analyst with Mehta Partners, New York. "But experience teaches us no single product from any one company is likely to be a magic bullet against this disease. None of the companies' shares should be treated the way EntreMed's have been this week."

Cancer scientists say, for instance, there are about a dozen companies deep into efforts, like EntreMed, to make drugs that choke off a tumor's blood supply, a technique called anti-angiogenesis. The notion of fighting cancer this way was originally developed several decades ago by Judah Folkman, a researcher at Children's Hospital in Boston whose lab in the last five years discovered the drugs being developed by EntreMed. And several companies, including the Japanese drug maker Takeda Pharmaceuticals and Abbott Laboratories of the U.S., are testing some early anti-angiogenesis substances identified by Dr. Folkman and others in the field.

In addition, Genentech Inc., Agouron Pharmaceuticals Inc., Ribozyme Pharmaceuticals Inc., Magainin Pharmaceuticals Inc., and Sugen Inc. are in early human testing of therapies with dramatic effects against tumors in animals by blocking blood vessels. But, as with EntreMed's two drugs, no one believes any of these products are a sure-bet to become successful anti-cancer agents anytime soon. Abbott and Takeda are too large for a cancer product success to significantly affect their future earnings growth.

And there are a host of tiny biotech companies testing agents in humans that use other techniques that have wiped out tumors in lab rodents. These companies include Antigenics, a closely held New York company, as well as Targeted Genetics, Vical Pharmaceuticals and Imclone Systems.

In an interview yesterday, Dr. Folkman reiterated that much work needs to be done on the two EntreMed vessel-blockers, called angiostatin and endostatin. He said that since Sunday, his lab has been flooded with calls from cancer patients, their families and doctors asking when the drugs will be available.

Although Dr. Folkman's lab discovered the natural proteins that may someday be turned into the EntreMed drugs, he says he isn't involved in scaling up their production, nor does he know when all-important toxicology studies will be done in primates.

EntreMed acquired the rights to develop Dr. Folkman's discoveries in 1991 when the then private venture firm gave Children's Hospital a grant. "We went to big and small companies looking for the money we needed to expand our research and EntreMed was the one to help us out," Dr. Folkman said, noting he owns no stake in the company.

In April, the 65-year-old Dr. Folkman joined the board of Johnson & Johnson. He said his lab has since discovered four other unnamed vessel-blocking agents that may be even more potent than the two being developed by EntreMed. He said no company has the rights to develop these.

Dr. Folkman said he was especially interested in vessel-blockers developed by Genentech. The San Francisco biotech company has created a synthetic antibody that disables a natural vessel-growing protein produced in the body called VEGF. A safety study of Genentech's anti-VEGF in about 25 patients will be presented at an American Society of Clinical Oncologists science meeting May 18 in Los Angeles. A company spokesman said rodent studies had shown the product was able to significantly reduce tumors, and it already is planning larger studies in prostate cancer patients.

Another company with still another approach to blocking tumor blood vessels is Ribozyme of Boulder, Colo. The company has developed small molecules that block VEGF activity. Ralph Christoffersen, Ribozyme's president, said his company's products reduced tumor size in rodents by 75%. He hopes his drug will be effective in halting tumor growth in patients, thereby extending lives and turning cancer into a "manageable disease."

But cancer scientists said other companies pursuing other techniques also have recently produced intriguing results. One company, closely held Antigenics in New York, is testing an all-purpose tumor fighter that works by triggering the body's immune system to destroy cancer cells. The technique is based on a discovery of so-called heat shock proteins by Pramod Srivastava of the University of Connecticut that can be used to disable a tumor's ability to fend off immune system cells. In animal tests reported in the journal Science last year, Antigenics reported that the therapy knocked out tumors against 14 types of cancer in lab rodents. Two top cancer centers are now testing the products in cancers of the pancreas and kidney.

---

Betting on a Cure
Companies in early stages of novel cancer drugs
COMPANY MARKET CAP
Genentech $ 8.62 billion
Agouron 1.11 billion
Imclone Systems 264.3 million
Vical Pharmaceuticals 252.8 million
Sugen 236.8 million
Maganin 152.6 million
Onyx Pharmaceuticals 115.8 million
Ribozyme Pharm. 47.3 million
Targeted Genetics 47.0 million
Antigenics* --
*Not a public company



To: Andreas Helke who wrote (20070)5/7/1998 9:08:00 AM
From: Henry Niman  Respond to of 32384
 
ENMD has traded in the 20's in early action this morning.