13
BioTech Stock Report, March 2003
Bio Portfolio
We at BioTech Stock Report believe that science and technology are the key to the future. Achieving scientific advancements in t echnology
will fuel the growth of the biotechnology industry, making possible the creation of new drugs or therapeutics. We believe our picks are well posi-
tioned to take advantage of the technological advances that will improve the quality of human life.
Investors should recognize that this is a long-term portfolio and share price will fluctuate according to market conditions.
Company
Reference
Date Price
2-27
Price
%
1-mo
%
YTD
%
Inception
Institutional
% Ownership:
+/-
Aggressive Growth
Abgenix (ABGX)
12-30-99 33.06
5.40
-6.74
-26.73
-83.67
82:+3
We are still looking for any information of any new developments for EGF -receptor, a cancer drug. Sangstat decides to discontinue developing ABX-
CBL to treat a rare blood disorder due to the lack of efficacy. Until we see further life in its product pipeline, we will change our buy to a hold/sell.
Affymetrix (AFFX)
5-31-00 59.38
25.87
-.61
13.02
-56.43
86:+6
AFFX continues to expand the utilization of its technology. Continue to rate as a buy on pull backs.
Alexion Pharmaecuticals (ALXN) 9-26-02 12.31
11.22
-8.75
-20.54
-8.48
94:+11
ALXN presented preliminary data at the December 2002 American Society of Hematology that demonstrated eculizumab can reduce the need for
blood transfusion in 68% of paroxysmal nocturnal hemoglobinura patients. Change from hold to buy until share price has stabilized.
Celgene (CELG)
4-28-00 47.06
21.37
-4.94
-.47
-54.59
66:+1
Thalomid sales remain on track for continued growth along with the two ADHD drugs, Focalin and Ritulin. CELG said it will be profitable in 2003.
Maintain buy.
Cell Genesys (CEGE)
3-27-97 6.25
7.98
-18.15
-28.43
27.68
62:+2
In Phase I/II clinical trial, CG7870 demonstrated antitumor activity with localized recurrent prostate cancer, thus, CEGE expects to initiate a Phase
II for CG7870 trial in early 2003. CG8840 for bladder cancer will begin Phase I/II trials by late 2003. CEGE to start Phase III clinical trials at the
end of 2003. GVAX for lung cancer that showed a clinical response by reducing tumor size and increase survival time for patients. Continue to rate as
a hold until share price shows some support level.
Ciphergen (CIPH)
3-30-01 4.44
5.03
24.20
45.80
13.29
46:-4
CIPH reported a loss of 92 cents for the year 2003 and the company anticipates breakeven by 2004. CIPH's proteomic technology wi ll play a sig-
nificant role in clinical development of new drugs. Therefore we continue to maintain buy on weakness.
Dendreon (DNDN)
1-30-03 5.37
4.20
-21.79
-21.79
-21.79
30:-1
DNDN presented data at the Prostate Cancer conference on Provenge that showed the vaccine had durable remission for prostate cancer patients.
ICOS (ICOS)
6-30-98 18.00
19.68
-19.18
-15.93
9.33
87:+30
Eli Lilly/Icos launched Cialis in Europe in January 2003. In the U.S., Cialis' marketing approval is dependent upon additional pharmacology studies,
labeling discussions and manufacturing plant inspection. Approval is expected in the second half of 2003. Thus, U.S. launch is projected for late
2003 or early 2004. The fear of competing drugs on Cialis has caused ICOS's share price to drop. Buy below $20.
ISIS Pharmaceuticals (ISIS)
5-31-02 9.40
4.38
-25.64
-33.54
-53.40
57:+6
ISIS reported a year end loss of $1.35 a share. Affinitac's Phase III survival data will be released March 2003 and could lead to the filing of a NDA
with the FDA. ISIS received a milestone payment from Amgen based on a R/D agreement it has with Amgen. Change from buy to hold until share
price shows support levels.
