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

To: opalapril who wrote (679)	5/11/1999 1:02:00 PM
From: debra vogt	Respond to of 1139

Related Quotes CCHM 4 3/8 +1 1/8 delayed 20 mins - disclaimer Tuesday May 11, 7:04 am Eastern Time Company Press Release CombiChem and ICOS Announce Expansion of Drug Discovery Collaboration SAN DIEGO, BOTHELL, Wash.--(BW HealthWire)--May 11, 1999--CombiChem Inc. (Nasdaq:CCHM - news) and ICOS Corp (Nasdaq:ICOS - news) today announced the expansion of their previously established drug discovery and development collaboration with the addition of an undisclosed target. ICOS has exclusive global rights to develop and market any products resulting from the collaboration. Under the new agreement, CombiChem is to receive an up-front payment, research support and milestone and royalty payments for any products developed as a result of the collaboration on the undisclosed target. CombiChem will utilize its Discovery Engine(TM), an iterative approach combining proprietary software for hypothesis generation, a structurally novel computer-based Virtual Library, and rapid synthesis capability. ''We are pleased to have this opportunity to expand our collaboration with ICOS and its scientists,'' stated Vicente Anido, Jr., Ph.D., CombiChem's president and chief executive officer. The collaboration follows the identification of drug targets by ICOS scientists and the development of high throughput screens with ICOS' small molecule drug library. ''We have enjoyed our collaboration with CombiChem and appreciate the progress on our current drug targets. We look forward to future successes in both programs utilizing CombiChem's lead discovery technologies,'' stated George B. Rathmann, chairman and chief executive officer of ICOS. ICOS is discovering and developing new pharmaceuticals by seeking points of intervention in the inflammatory process that may lead to more specific and efficacious drugs. ICOS's research and drug development programs involve both acute and chronic conditions. CombiChem Inc., based in San Diego, is a computational discovery company that is applying its proprietary design technology and rapid synthesis capabilities to accelerate the discovery process for new drugs and chemical products. CombiChem believes its approach offers the pharmaceutical and chemical industries the opportunity to conduct their discovery efforts in a more productive and cost effective manner. Using its proprietary Discovery Engine(TM) process, CombiChem focuses on the generation, evolution, and optimization of new lead candidates for its collaborative partners, who will then develop, manufacture, market, and sell the resulting products. CombiChem has also established collaborative agreements with Athena Neuroscience Inc., a wholly owned subsidiary of Elan Corp., plc., ImClone Systems Inc., Novartis Crop Protection AG, Ono Pharmaceutical Co. Ltd., Roche Bioscience, Sumitomo Pharmaceuticals Co. Ltd. and Teijin Limited. Additionally, CombiChem has established a 50%-owned joint venture with Chirotech Technology Limited, a member of the Chiroscience Group of companies. The joint venture, ChiroChem Discovery Services LLC, was created to develop and market computationally designed libraries of single-isomer, chiral compounds to the pharmaceutical industry. Except for the historical information contained herein, the matters discussed in this news release may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the companies' businesses including without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the companies' products, the impact of competitive products and pricing, and the companies' ability to obtain additional financing to support their operations. The companies undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. CombiChem's press releases are on the Web at www.combichem.com. --------------------------------------------------------------------------------

To: opalapril who wrote (679)	5/11/1999 3:32:00 PM
From: Edscharp	Read Replies (3) \| Respond to of 1139

Opal I think ICOS is a promising company with good management. But, the only reason it is soaring is because Bill Gates owns a piece of it. I mean really, how many biotechs do you know that zoom without any news to account for it? Xoma doesn't zoom and they may have an important product in the very near future It is way overpriced right now. They won't have any products for at least two years and if they should happen to get a poor clinical performance or when shareholders get tired of waiting for a real product the stock will get whacked. Having said that I believe the stock will continue to soar for a while longer purely on the "if it's good enough for Bill Gates" theory. Mark my words.

To: opalapril who wrote (679)	5/11/1999 4:12:00 PM
From: Lel H	Respond to of 1139

I think the question "is company XYZ overpriced?" is pretty near impossible to answer. I think the best people can do is offer their opinions one way or another, and leave to the rest of the investing community to agree or disagree. Having said that, I would say that the only thing that would disagree with is the statement that "Mutual fund interest is high." By comparison, ICOS has a relatively small percentage of its stock held by institutions, although it is spread among something like a hundred different institutions. Of course, institutional ownership isn't necessarily a good indicator of company health. I don't know how much current weight I would put into the Gates factor during the recent run from the mid-20s. There can be no doubt that about six months ago, misperceptions about Gates's investment led to a run, but his position in this company is already widely known among those who follow this company. I don't know why ICOS has moved so much recently. Possibly because of IMNX's big jump today, possibly because of anticipation of clinical trial results, possibly because of the current uncertainty about Zonagen's ED product. In short, I'm fairly puzzled, but pleased. Edward is right - clinical trial failures, which are inevitable with any biotech, will put pressure on ICOS. The next few months might be interesting, since ICOS is expected to report results from a couple phase II trials and is expected to initiate at least one phase III trial. Jittery investors could consider buying out-of-the-money near-term puts, if they are worried about a nosedive. Just my opinions, Lel