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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Chris M. who wrote (3038)	5/29/1998 11:22:00 AM
From: R. K. (Chip) Constantian Jr.	Read Replies (1) \| Respond to of 9523

According to this article, the drug is 2 years from marketing. ICOS shrs surge after impotence drug report NEW YORK, May 29 (Reuters) - Shares of ICOS Corp. surged 7-7/16 to 23-11/16 Friday morning following a report Thursday in Business Week that its drug, IC351, could be a better product than Pfizer Inc.'s (PFE - news) Viagra for the treatment of impotence because it may have fewer side effects. ''ICOS has indicated that IC351 demonstrates greater selectivity in tissue studies. This could potentially result in a drug with better efficacy and fewer side effects than Viagra,'' said Sharon Doering, an analyst with Madison Securities. But Doering, who rates ICOS a long-term buy, cautioned that the price could retreat from its new highs in the short-term. ''The stock could trade lower in the short term because this isn't new news. This should have already been factored into the stock,'' Doering said. ''The drug is two years away from coming to market and biotech stocks are inherently volitle,'' she added. According to Andrew Heyward of Ragen MacKenzie Inc, the ICOS drug might produce fewer side effects than Viagra because its target is more specific. ''The way these drugs work is by inhibiting an enzyme called PDE5. What that means is that you ought to be able to develop a specific drug for PDE5 that will not affect the other enzymes -- that's where the news comes in with having fewer side effects,'' he said. Heyward said that the Pfizer drug probably affects another enzyme, PDE6, causing the color vision side effect associated with Viagra. When PDE5 is inhibited, it helps relax smooth muscles and increases blood flow. ''When you have something much more specific in inhibiting PDE5, it opens up the opportunity to use it in other conditions, such as angina and congestive heart failure,'' Heyward added. According to Heyward, Ragen MacKenzie has a significant investment in ICOS.

To: Chris M. who wrote (3038)	5/29/1998 4:02:00 PM
From: Ron Flanigan	Respond to of 9523

Chris: In my observation for the past several months, Friday has been a down day for the market. It certainly was good news today for Pfizer and I think that will be reflected in Monday's market. Ron