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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (920)	3/21/1999 2:48:00 PM
From: Steve Tauscher	Read Replies (2) \| Respond to of 3202

David, AFFX sued INCY in January 1998 for patent infringement after INCY announced they were to acquire Synteni, a company which offered gene expression microarray products. On 9/1/98 AFFX announced, in a press release, that the US Patent and Trademark Office issued another patent to AFFX. AFFX added that patent to their lawsuit and filed a motion for a preliminary injunction to ask the Court to immediately stop Incyte/Synteni from making, using and selling products that used the claimed Affymetrix' technology. The hearing for this preliminary injunction is currently scheduled for April 30th. INCY has since recieved another patent which has overlapping claims with the second AFFX patent. The PTO declared a patent interferance proceeding to be held. I'm not a lawyer - this stuff is way out of my neighborhood but IMHO the injunction will not be granted. However the original suit may have merit and in a AFFX Yahoo or SI post someone said that an investment banker has reportedly written that AFFX is going for unconditional surrender, not a licensing compromise. That post also estimated it might take 5 years to settle the claims in court. As for the weakness - who knows. However the chart looks terrible and I'm hurting like everyone else. IMHO this company is worth $20 per share for the diaDexus business alone. I've been buying as it drops and will continue to do so. This is something I want to hold for 15 years. Even if Celera takes half their partners (which I don't think will occur), this company will survive and prosper. Good luck to all. Regards, Steve