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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (7281)	9/23/1998 1:31:00 PM
From: aknahow	Read Replies (1) \| Respond to of 17367

You have a point but when one steps back the fact that a DSMB has met and recommended continuance usually does not make the news. Almost every day some DSMB has met to make a recommendation about some drug. Is, (or perhaps, are or was , depending on your definition of is), there any announcement if the recommendation is continue? One can find announcements of early halts. While I of course consider the announcement very significant, I sort of doubt the rest of the world cares.

To: Arthur Radley who wrote (7281)	9/23/1998 1:35:00 PM
From: LarryS	Read Replies (2) \| Respond to of 17367

There is something here that is not adequately explained in the FAQ and that is the purpose of the final review. Would XOMA/DSMB (for positive PR reasons) review just before the end of the trial and at that time recommend termination of Phase III and then use it open label (instead of 50% placebos) during the meno season in late winter?? Could they do that without FDA approval? I thought the trial was to be over in December so a review in November would only save about 30 days...so what?? There is something here we are not being told or do not understand.

To: Arthur Radley who wrote (7281)	9/23/1998 1:44:00 PM
From: aknahow	Read Replies (2) \| Respond to of 17367

BTW the big news today is Bayers second big deal in a matter of days. MLNM deal. To continue an old theme, I see these moves as seminal events that will stimulate others who were contemplating mergers, buyouts or deals to move faster. The top managements of Bayers competitors must be at a hightened level of alertness. Their job performance depends on their own ability to make the best possible deals they can for their own companies and doing so before someone else beats them to their designated targets. EXCERPT During the five-year term of the alliance, Bayer will make a total investment in Millennium of up to $465 million. Of this, up to $368.4 million will consist of guaranteed funding and performance fees for the drug targets identified, and a license fee for the use of the genome technologies developed by Millennium. The remaining $96.6 million will be paid by Bayer as an equity investment representing approximately a 14% interest in Millennium. In addition, Bayer will pay royalties to Millennium on the sale of any marketed products.