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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (6663)	5/17/1999 3:26:00 PM
From: Pseudo Biologist	Read Replies (2) \| Respond to of 9719

Thanks for the information, here is my "hype" -g- BTW, it seemed like last year every other cancer biotech tanked big shortly after the ASCO meeting (going on now in Atlanta). If history repeats itself, we may get some chance to get some of these at better values - just a thought. CLTR profile: biz.yahoo.com Cash per share $8.37 Tech value (Mk Cap - Cash): 250 M Lead product is Bexxar a radioconjugated antibody that targets the CD20 marker in non-Hodgkins lymphoma cells. Has completed (what looks like) successful phase III trials: coulterpharm.com They are supposed to file with the FDA within the next few months. Their main competitor is expected to be Rituxan, already in the market with first-year sales of over $150 M ( businesswire.com ). Rituxan is also an antibody to the same CD20 antigen, but it is not radioconjugated. Lastly, CLTR has been a long time favorite of the VD portfolio, and a lot of insight and detail has been provided by V1 and others here and in the CLTR thread. IMCL profile: biz.yahoo.com Cash per share: $1.91 Tech value: 440 M Lead product, as you indicated, is the C225 antibody to the EGF receptor; to my knowledge this has not completed any phase III trial yet, so the point at which it may be filed with the FDA (assuming trials are successful) is likely to be a year or more after CLTR. On the flip side, I think C225 is likely to address a much larger market than Bexxar or Rituxan, or even Herceptin, an antibody that targets the HER-2 antigen (a close cousing of EGF receptor). Note also that Pfizer/OSI disclosed some data today on their small molecule product that targets the same receptor; this is way behind at the moment, but it may have a large cost advantage over C225 if and when it reaches the market (assuming it works, of course): biz.yahoo.com The cancer vaccine project, BEC2, may be quite interesting, but this is more novel (some may read "unproven") technology. The range of preclinical products is also impressive. Overall, not a bad company at all, but I have a hard time giving it a ~75 premium over CLTR in technology value (I have not checked IMCL latest financings and milestone flow as to update the cash data provided by Yahoo). For SUGEN, I would try to dig out Miljenko's posts in the SUGN thread; let me know if you have trouble finding them. PB