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

To: Solid who wrote (3104)	6/1/1998 11:24:00 AM
From: B.REVERE	Read Replies (3) \| Respond to of 9523

[A fool and his money]---May 29, 1998/FOOLWIRE/ -- Bothell, Wash.-based biotechnology company ICOS Corp. (Nasdaq: ICOS) surged $4 13/16 to $21 1/16 after Business Week's "Inside Wall Street" column reported that the company is developing an impotence drug that could be better than Pfizer's (NYSE: PFE) popular new pill Viagra. The magazine hyped the drug as "the son of Viagra" and quoted Jim McCamant, editor of a medical technology newsletter in Berkeley, Calif., as saying that ICOS' IC351 drug ''will be a potentially better product... because it has fewer side effects.'' This was news to the company itself, which has finished one small Phase 2 trial, is continuing with a bigger Phase 2 trial of IC351, and has yet to release any clinical data on the drug. With the rest of the Phase 2 trial, Phase 3, and application for FDA approval still to go, the company told us it doesn't expect to see a product launch until at least 2000 or 2001. Again, as in the case of cancer-drug-seeking EntreMed (Nasdaq: ENMD), this is another instance of the media hyping old news and getting all excited about a drug that won't be available for at least a few years.