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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: poodle who wrote (46)	3/6/1999 6:08:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 52153

The quickie answer I found was this... centerwatch.com A Phase Three Study: In a phase III study, a drug is tested in several hundred to several thousand patients. This large-scale testing provides the pharmaceutical company and the FDA with a more thorough understanding of the drug's effectiveness, benefits, and the range of possible adverse reactions. Most phase III studies are randomized and blinded trials. Phase III studies typically last several years. Seventy to 90 percent of drugs that enter phase III studies successfully complete this phase of testing. Once a phase III study is successfully completed, a pharmaceutical company can request FDA approval for marketing the drug. Post-Marketing -- Late Phase Three/Phase Four Studies In late phase III/phase IV studies, pharmaceutical companies have several objectives: (1) studies often compare a drug with other drugs already in the market; (2) studies are often designed to monitor a drug's long-term effectiveness and impact on a patient's quality of life; and (3) many studies are designed to determine the cost-effectiveness of a drug therapy relative to other traditional and new therapies. __________ Based on the hypothesis that the market is mainly about fear and greed, I've loaded up on micros with lead compounds and early clinicals, where the market cap is about book value (fear=cheap). I figure I can bag my gains when parters or buyouts are announced, and be out before the nervewracking part of the clinicals drags on (where fear has a way of re-establishing itself awfully fast). I'll let you know if it ever works, have not bagged anything lately. Sigh.