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Biotech / Medical : EntreMed (ENMD) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (1632)	2/12/1999 12:06:00 AM
From: Skywatcher	Respond to of 2135

Sorry to interupt...but having made money once on puts the first time this went to 85...I just find it incredibly hard to believe that the announcement yesterday by the major drug co....bailing...another picking it up....and then the following day....the long sought after duplication of the results hits the wires...mmmmm I always hope this is the one....truly, however I have always bought into the 'mouse' fever and sold and then counted on the 'mouse' fever bring whatever stock it is back to earth through dissipation and realization that it's gonna take 2 years or whatever. This one has had the most staying power of any I have ever seen... But I still don't think it is just coincidence that these two events (especially after the blantant PR etc that went on during the first session) is unrelated nor unplanned. Not taking an equity position either way....just too much risk for this pilot. chris

To: Anthony@Pacific who wrote (1632)	2/12/1999 12:20:00 AM
From: ztect	Read Replies (2) \| Respond to of 2135

Did you happen to read these articles on EntreMed? Plus, is your short position a reaction to what you perceive to be "yet another" cancer cure inspired run? Are you predicting that the original anticipation of a "cure for certain types of cancer" will fizzle like so many have done so before? Do you also have reason to believe the findings were overstated and have conferred with others who have more knowledge of this subject matter than yourself? What is your knowledge of this subject matter by the way? If the price appears to continue on a rise, will you maybe reassess your initial short position and "box" this stock? Hare the articles below. Sincerely, ztect ================================================== cbs.marketwatch.com EntreMed erupts on cancer drug find Shares explode after test confirms anti-cancer results By Cecily Fraser, CBS MarketWatch Last Update: 5:12 PM ET Feb 11, 1999 Movers & Shakers NEW YORK (CBS.MW) -- EntreMed shares soared 100 percent Thursday after government scientists confirmed they were able to duplicate results for a highly publicized anti-cancer drug. The medical breakthrough came about when National Cancer Institute scientists conducted the research in the laboratory of Dr. Judah Folkman, who discovered the drug endostatin and found that it reduced tumors in mice. Research at Children's Hospital in Boston showed promise last spring after demonstrating that it reduced tumors in mice by cutting blood supplies to cancerous areas. Scientists are now reportedly ready to begin testing the drug on humans. Following the news of the discovery, investors held a rosy prognosis on EntreMed's stock (ENMD) which advanced 12 13/16 to 25 11/16 after taking a beating earlier in the week when Bristol-Myers (BMY) backed out of a joint venture with the biotech company. The companies, who had plans to develop a cancer-therapy protein, said they had re-evaluated their research agreement on the angiostatin protein. Under the companies' revised agreement, EntreMed is now responsible for all upcoming work on the molecule. Bristol-Myers Squibb has the option to "reassume" development and marketing once proof surfaces that the protein meets its criteria for clinical trials. The Washington, D.C.-based EntreMed said it plans to seek Food and Drug Administration approval to begin testing angiostatin and endostatin later this year. EntreMed works to develop technologies through ventures with and sponsorship from medical departments, research firms and government laboratories. ========================= cbs.marketwatch.com Anti-cancer results duplicated Government test big boost for EntreMed Last Update: 4:32 PM ET Feb 11, 1999 NewsWatch BOSTON (AP) -- Government scientists have finally been able to reproduce a scientist's highly publicized results for an anti-cancer drug and are now seeking to begin the first human tests, The Boston Globe reported Thursday. The tiny biotech company EntreMed (ENMD) saw its shares double on the news -- just a day after they plunged after the firm reported it was being abandoned by a key backer. See Screamers. The breakthrough using the drug endostatin came only when National Cancer Institute scientists conducted the experiment in the Children's Hospital laboratory of researcher Dr. Judah Folkman, who discovered it and found that it reduced tumors in mice. Last fall, NCI scientists said they could not match Folkman's promising test results using a small quantity of the drug Folkman sent them. Folkman attributed the failure to the drug's sensitivity to handling, storage and the way it's administered. The institute, in Frederick, Md., then sent researchers to Folkman's lab in November and December. "This substantiates the idea that these are technical issues" that led to the failure at the NCI laboratory, Dr. Robert Wittes, deputy director of the institute, told the Globe. "Now we will move to facilities in Frederick and try to reproduce the results down here," he said. The NCI also sent notices this week to medical centers around the country, inviting proposals for human tests to determine if endostatin is safe, the newspaper said. Wittes could not predict when tests on humans would start. Folkman gained worldwide attention last spring when The New York Times reported in a page one story on his findings that endostatin and a related drug, angiostatin, shrunk tumors in rats by cutting off their blood supply. Children's Hospital licensed both drugs to EntreMed for further development into commercial products. EntreMed sublicensed angiostatin to the Bristol-Myers Squibb pharmaceutical company, while EntreMed and the cancer institute concentrated on endostatin. On Tuesday, Bristol-Myers said it was withdrawing from the partnership to develop angiostatin, saying the project had not produced a drug that was consistently effective. EntreMed said it would press ahead with tests on angiostatin, but investors sliced the company's value in half Wednesday. Today, shares of EntreMed rebounded $2.62 1/2, or by 20.4 percent, to $15.50 in morning trading on the Nasdaq Stock Market.