14
BioTech Navigator, March 1998
laboratory and clinical testing to de-
termine if Leukine may have a thera-
peutic role in the treatment of early
stage HIV disease.
In mid-February, Incyte (BTN
Issue #5: Genomics) extended its ge-
nomic database collaboration with
Pfizer Inc. (PFE) by three years. In-
cyte and Pfizer also expanded the
scope of the original agreement to in-
clude access to the LifeSeq FL
database of full-length genes, the
LifeSeq GeneAlbum DNA clone set,
as well as continued access to the
LifeSeq gene sequence and expression
database.
Isis reported 1997 fourth quarter
and year end results to be a loss of
41˘ per share and a loss of $1.17 per
share, respectively compared to a loss
of 32˘ and a loss of $1.04 for the
same period of last year. Isis said
increased revenues were principally
the result of a marketing and distribu-
tion agreement with CIBA Vision
Corp. and research and development
agreements and expenses increased
due to the cost of preclinical and clin-
ical studies and interest expense.
In early February, Isis (BTN Issue
#2: AIDS-related) and Novartis AG's
(NVTSY) Ciba Vision Corp. eye care
unit said a phase III trial demon-
strated fomivirsen, an antisense drug
to treat CMV retinitis in AIDS pa-
tients, delayed disease progression.
The trial also showed that fomivirsen
is well-tolerated, producing no serious
side effects. Analysis of the trials
will form the basis of a new drug ap-
plication for the FDA that is currently
being prepared.
In the trial, immediate treatment
of newly-diagnosed, previously un-
treated CMV retinitis with fomivirsen
was compared to deferred treatment
until progression followed by treat-
ment with fomivirsen. The analysis
demonstrated that the median time to
disease progression for the immediate
treatment group was 71 days, com-
pared to 13 days for the deferred treat-
ment group. Twenty-eight patients
were enrolled in the study, with 18
treated immediately with fomivirsen
and 10 assigned to the deferred treat-
ment group.
In late February, Millennium
(BTN Issue #3: Prostate Cancer) re-
ceived a patent covering novel genes
and gene sequences that encode a
TH1-specific cysteine protease. TH1-
specific genes may be useful in the
discovery of novel drugs and diagnos-
tics for immunological disorders, such
as asthma and multiple sclerosis.
Cysteine proteases are enzymes that
control a variety of cellular functions,
including apoptosis and peptide hor-
mone activation, and play a role in
tissue degradation. The TH1-specific
cysteine protease was discovered as
part of a collaboration with Astra AB
(A), which holds a license under this
patent in the inflammatory respiratory
disorder therapeutic field.
SIBIA (BTN Issue #10:
Alzheimer's Disease) announced
fourth quarter and 1997 year end re-
sults to be a loss of 27˘ and 82˘ per
share, respectively compared to a loss
of 18˘ and a loss of 73
˘ per share for
the same periods last year. The 1997
financial results includes a
one-time
license fees of $3 million and SIBIA
said it had higher general and admin-
istrative expenses in fiscal 1997 due
largely to legal fees related to various
patent and litigation matters, foreign
taxes related to payments received
under the Meiji agreement and costs
associated with a proposed secondary
offering of the company's common
stock, withdrawn in February 1998
due to market conditions.
On February 12
th
, SIBIA withdrew
its registration for a proposed public
offering of 2.5 million common
shares. The company cited market
conditions. SIBIA said its current
share price doesn't adequately reflect
the value of its technology and drug
discovery activity.
Vertex (BTN Issue #12: Hepatitis
C) announced year end results and
fourth quarter results to be
a loss of 82˘ and a loss of 27˘ per
share, respectively compared to a loss
of 29˘ and loss of $2.13 for the same
period of last year. Vertex's revenues
fluctuated due to changes in the
amount of partner research support
payments, reimbursements and mile-
stone payments. In addition, fourth
quarter expenditures were $18 mil-
lion, up from $10.4 million a year
ago.
In early February, Vertex an-
nounced that its protease inhibitor
Amprenavir "may result in highly po-
tent antiviral regimens" when com-
bined with any of three other protease
inhibitors now available on the mar-
ket. Vertex said results of a Phase II
study compared combinations of am-
prenavir with nelfinavir, indinavir,
saquinavir, and the nucleoside ana-
logues Epivir and Retrovir over 16
weeks of treatment. The combina-
tions were "generally well tolerated"
by patients in the 16-week study.
Deletions:
This month BTN has decide to delete
Cephalon, Cytogen and Calypte from
its BioPortfolio. BTN has not covered
Cephalon in any of its past issues and
currently has no plans to cover this
company. Since Cytogen has under-
performed it has been deleted from
BioPortfolio. Calypte has one of the
better diagnostics for AIDS, but given
that Calypte is not meeting BTN's
expectations, BTN has decided not to
cover this company anymore.
