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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (21)	12/19/1998 8:15:00 AM
From: James Reynolds	Read Replies (1) \| Respond to of 447

Richard, I think OSI have stated their intention to concentrate resources on on a smaller number of targets, mainly in cancer and cancer diagnostics, cosmeceuticals and anti-infectives. They also have an interesting diabetes package with Vanderbilt which they are looking to partner out during 99. The EPO inducer program is unlikely to move forward. Obviously, a lot of hopes rest with the Pfizer cancer program which is a big priority for Pfizer as their recent press release clearly showed. Compounds targeting ras and anti-angiogenesis could enter the clinic during H2 99. A compound from the Anaderm cosmeceuticals program with Pfizer may also enter the clinic during 99. OSI anticipates its burn rate will fall to less than $7mm in 99 and less than $5mm in 2000, so with cash of $24mm the company probably has enough to last 3-4 years.