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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?


To: adam boshnyak who wrote (7269)5/26/1998 4:23:00 PM
From: Rod  Respond to of 8116
 
AMEN!!!! FR ROD



To: adam boshnyak who wrote (7269)5/26/1998 4:49:00 PM
From: starpopper  Respond to of 8116
 
DuPont Merck and CYTOGEN Announce Continued Collaboration On Quadramet

May 26, 1998 03:41 PM

NORTH BILLERICA, Mass. and PRINCETON, N.J., May 26 /PRNewswire/ -- The DuPont Merck Pharmaceutical Company and CYTOGEN Corporation CYTO today announced the withdrawal of the lawsuit between them regarding the contract under which DuPont Merck distributes CYTOGEN's cancer pain relief product, Quadramet (Samarium Sm 153 Lexidronam Injection).

DuPont Merck will continue to manufacture, distribute, and service Quadramet, and has reaffirmed its previously stated intention to ensure availability of Quadramet to all eligible cancer patients. The companies agreed, however, that it is desirable that a third party be engaged to continue market development of Quadramet so that it achieves its full market potential. DuPont Merck, with CYTOGEN's collaboration, will lead the effort to select an appropriate company for that purpose.

The DuPont Merck Pharmaceutical Company is a worldwide, research-based pharmaceutical and radiopharmaceutical company established in 1991 as a partnership between DuPont and Merck and Co. The Company is headquartered in Wilmington, Delaware; the Radiopharmaceuticals Division is headquartered in North Billerica, Massachusetts. The Company markets its products under the DuPont Pharma name.

CYTOGEN is a biopharmaceutical company engaged in the development, manufacture, and commercialization of products for the targeted delivery of diagnostics and therapeutic substances directly to disease sites. CYTOGEN has demonstrated its ability to develop new technology from early discovery through clinical development, regulatory approval and commercial scale biologic manufacturing.

Information in this press release, which is not historical, is forward looking and involves risks and uncertainties. Actual results may differ materially, for reasons discussed in CYTOGEN's filings with the Securities and Exchange Commission, including risks related to unanticipated expenses which may reduce CYTOGEN's ability to achieve maximum efficiencies from the changes in business strategies, the ability to find a suitable partner for further development of the technology, and commercial acceptance of CYTOGEN's products.

SOURCE DuPont Merck and CYTOGEN

c 1998 PR Newswire. All rights reserved.




To: adam boshnyak who wrote (7269)5/26/1998 5:02:00 PM
From: starpopper  Read Replies (1) | Respond to of 8116
 
I LOVE THIS MARKET!!!

In the last half hour of trading today I was both horrified and thrilled by the performance of CYTO stock!

I started accumulating last week at $1.25, then added some more at $1.00. Of course this puppy continued it's slide the very next day to $.75 where I doubled my position. Needless to say I was getting extremely worried today about my presumed "wisdom" when I saw CYTO trade at 5/8ths shortly after 3:30pm!

The good news about a settlement between CYTO and Dupont-Merck hit at 3:41pm and propelled us back over $1! I went from being down more than 30% at one point today to closing with a 25% gain on my position!

The rest of the week could be VERY interesting indeed...either we brush off this news and continue our slide, or we have a nice pop to the $3-$5 range based on higher expections that some real marketing of Quadramet might be in the offing!

CYTO daily low $.625, daily high $1.25...that's a nice 100% spread for the day!!!

I'll say it again...I LOVE THIS MARKET!!!

$WEET DREAM$

$tarpopper