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Biotech / Medical : GelTex Pharmaceuticals (GELX) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Holmes who wrote (58)	7/28/1998 12:22:00 AM
From: Robert L. Ray	Read Replies (1) \| Respond to of 127

>>> Regarding Cholestagel, the large phase III finished enrollment in March (even though it began earlier than that) so preliminary results still won't be known for some time (perhaps the end of the year)<<< Thanks very much for this information. I've been looking for the results of that trial for the last coupla weeks. I wasn't aware that the patient enrollment wasn't finished until March. I was counting since early January. >>>A Cholestagel deal could happen at anytime though.<<< I've been thinking the same thing. It of course would be nice if GELX had the resources to do the marketing themselves and keep the whole pie, but of course that's not realistic. I'm going to be very disappointed if it's a 50/50 type of deal like Renagel was though. To my way a thinking a 50/50 type of deal would only be appropriate if a partner came in during the very early stages of development. Such was not the case with Renagel and certainly won't be the case with Cholestagel either. For one thing at last report GELX had 108 million in cash & securities so it's not like their hurting for milestone payments from someone. Add in the near certainty of income from Renagel in the near future and I think they have the financial leverage to strike a much better percentage deal than they did with Renagel.