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

To: aknahow who wrote (9713)	4/26/1999 10:44:00 AM
From: Edscharp	Read Replies (1) \| Respond to of 17367

From the Medical Technology Stock Letter - April 22, 1999 "In a joint announcement, XOMA and Genentech have extended their collaboration to develop their humanized monoclonal antibody, hul124, to treat psoriasis through Phase III trials. Since April, 1996 the companies have spent $34 million in developing this compound through Phase II. A synopsis of the Phase II results were presented at the same time the extension of the collaboration was announced. In the randomized, double-blind, placebo-controlled Canadian trial, half of the 145 enrolled patients with moderate-to-severe psoriasis received once-weekly infusions of the hul124 over the course of eight weeks. One quarter of these patients showed a clinical response of at least 75% over baseline measures versus 2% for those given placebo. Another 47% of the treated patients showed at least 50% improvement over baseline measures versus 15% for placebo. Full results will be presented at the Canadian Dermatology Association's annual meeting, June 30-July 4 in Vancouver, BC. XOMA and Genentech plan to meet with the FDA by the end of May to flesh out the Phase III trial design and protocols. Subcutaneous administration of hul124 is currently being tested in Phase II trials, and would be the administration of choice for Phase III if the on-going trials prove successful. XOMA is a buy under $4."