14
BioTech Stock Report, April 2002
BioPortfolio
Company
Reference
Date Price
3-22
Price
%
1-mo
YTD
%
Inception
Institutional
Ownership:+/-
Aggressive Growth
Imclone Systems (IMCL)
4-28-28 45.50
26.06
16.15
-31.50
-42.79
54:+1
Bristol-Myers-Squibb and IMCL revise their partnership agreement. The FDA may accept Imclone's additional data for Erbitux, a drug to treat colo-
rectal cancer. Imclone is only for the fearless.
Inhale Therapeutics (INHL)
2-28-01 31.00
10.60
-20.09
-43.47
-66.77
74:NC
The NDA for Exubera, an inhaled form of insulin is expected to be filed with the FDA at the end of the year. In late June, the American Diabetes
Association will hold its annual conference. Look for Phase III data on Exubera. Maintain buy.
Sepracor (SEPR)
6-30-98 20.75
19.76
-54.07
-64.56
-4.77
94:NC
Soltara, SEPR's anti- allergy drug is given a non-approval by the FDA. Revise target price to $30.
Trimeris Inc. (TRMS)
10-29-99 18.00
44.80
17.28
6.44
148.89
61:NC
TRMS reported a loss of $1.24 and for the year a loss of $3.94 a share. Application for T -20, a drug to treat AIDS is expected to be filed for ap-
proval by the second half of 2002. Take some profits as the filing date approaches.
Tularik Inc. (TLRK)
2-28-02 18.00
18.30
1.67
1.67
1.67
T67 for liver cancer, TLRK will decide March 2002 to start Phase III trials or continue with Phase II. Buy below $15.
Intermediate Growth
Cephalon (CEPH)
12-27-01 75.42
68.00
16.64
-9.84
-9.84
83:NC
CEPH`s share price continues to feel the lingering effects of concerns about its balance sheet, yet year-end results were decent and company raised
2002 revenue and earnings guidance. Company has filed a sNDA for Provigil that should get approval by the end of year and further CEPH's growth.
Buy below $65.
Enzon (ENZN)
11-30-01
47.75
8.77
-14.99
-18.53
89:NC
Anticipate ENZN to continue to benefit from the sales of PEG-Intro sales. A competitor of PEG-Intron is Pegasys, Roche's treatment for hepatitis
C received approval in the European Union. Pegasys is still awaiting approval in the U.S. Maintain buy on ENZN.
Gilead (GILD)
3-27-97 24.88
37.31
5.90
21.47
499.96
88:NC
Tamiflu received marketing approval in the European Union. GILD submitted NDA for its hepatitis B drug, Adefovir Dipivoxil. GILD split 2 for
one. GILD has met target price, based on valuation, take some profits and when it share price pullbacks, buy below $30.
Millennium (MLNM)
3-27-97 4.18
24.22
28.97
-1.30
491.63
63:+11
MLNM collaborates with Paion GmbH to develop MLN519 with patients who had a stroke and the companies plan to develop and begin Phase II
clinical trials. Maintain buy.
Protein Design Labs (PDLI)
7-31-98 18.88
17.91
12.85
-43.12
279.55
78:-1
PDLI initiated Phase II for Nuvion in graft vs. host disease. Zenapax to treat previously treated psoriosis patients failed to meet primary target.
Target price of $30.
Vertex (VRTX)
8-29-97 17.23
28.85
32.28
17.56
68.47
73:NC
We anticipate VRTX will have a strong year in advancing its product pipeline. NDA of
GW433908, an AIDS drug by the end of 2002.
Vertex is a strong
company, buy below $20.
32:NA
