14
BioTech Stock Report, January 2004
Bio Portfolio
Company
Reference
Date Price
12-18
Price
%
1-mo
%
YTD
%
Inception
Institutional
Ownership:+/-
Aggressive Growth
Repligen (RGEN)
9-25-03 5.61
4.20
-13.58
-25.13
-25.13
25:-1
In its Q2-04 conference call, RGEN said top-line Phase III clinical data of Secretin for the treatment of autism will be released the week of January
5, 2004. The company announced on Dec. 10, 2003, it has initiated Phase II clinical trials of Secretin for treatment of schizophrenia and plans to
initiate Phase II studies for anxiety disorder in the second half of 2004. RGEN and Bristol-Myers-Squibb are in a patent lawsuit over CTLA4-Ig. See
October 2003 report for our analysis and current BioUpdates. Continue to rate as a buy below $5 and see our current comments.
Sepracor (SEPR)
6-30-98 20.75
23.63
4.37
144.36
13.88
82:NC
The company has several promising drugs in late-stage development and one of them is Estorra, a drug to treat insomnia. Estorra's PDUFA date has
been changed from Nov. 30th to on or before Feb. 29, 2004, SEPR still expects FDA approval. Estorra's 6 months Phase III clinical data was pub-
lished in the November 2003 edition of the journal Sleep. Meanwhile, on Dec. 18, SEPR initiated Phase IIIB for Estorra in patients who are de-
pressed and have rheumatoid arthritis, and for women who suffer perimenopause. SEPR said it will be profitable by 2005. See current BioUpdates and
accumulate below $25.
Telik (TELK)
9-25-03 20.64
20.84
9.68
.97
.97
70:-1
On Dec. 2, 2003, Telik announced Telcyta for the treatment of non-small cell lung cancer received fast track designation from the FDA. On No-
vember 19, 2003, Telik presented several interim data at a medical conference for Telintra and Telcyta. See December 2003 BioUpdates for details.
See October 2003 report to read about Telik. Buy below $20 with a target price of $26.
Trimeris (TRMS)
10-29-99 18.00
19.75
-7.71
-54.25
9.72
93:+2
At the 2003 IACC conference, TRMS presented new data that showed Fuzeon was able to keep the viral loads down in HIV patients and a Phase II
trial for its other AIDS drug, T1249 showed anti-viral activity in AIDS patients. Sales of Fuzeon should improve. Please see November 2003 and
current BioUpdates. Buy around $25 with a target price of $40.
Tularik (TLRK)
2-28-02 18.00
15.90
33.05
113.14
-11.67
28:-1
On Dec. 9, 2003, both TLRK and Sanyo said they will collaborate to develop orphan G-proteins coupled receptors for human therapeutics. T67's
Phase II/III clinical trials for liver cancer started on March 25, 2003 and the company will have an enrollment update at the end of 2003. On Oct.
22, 2003, T67 was granted fast track designation from the FDA for liver cancer. T607 Phase II st udies are ongoing for a variety of cancers. Phase
II data to be released in Q4-03. TLRK and AMGN entered into a collaboration agreement in July 2003. With this deal, buy below $10. See Septem-
ber 2003 BioUpdates for details in regards to TLRK's pipeline.
Intermediate Growth
Affymetrix (AFFX)
5-31-00 59.38
24.10
.12
5.29
-59.41
89:+1
In December 2003 AFFX announced a couple of collaborations agreements. AFFY and Arcturus will develop new tools for gene expression analysis
for paraffin embedded clinical biopsy. AFFY and Nugen will develop whole transcript amplification and detection systems for genomic analysis.
AFFX and Roche plan to introduce 6 diagnostics using AFFX's chips by the end of 2004. AFFX's share price is attractive around $21.
Celgene (CELG)
4-28-00 47.06
44.16
4.45
105.68
-6.16
78:NC
At ASH meeting, CELG presented Phase II data that showed positive results for Actmid and Revimid in treating patients with multiple myeloma.
Thalomid sales remain on track for continued growth along with the two ADHD drugs, Focalin and Ritulin. On Oct. 30, 2003 CELG initiated Phase
II clinical trials of Actmid for prostate cancer. CELG projects 2003 earnings of $0.10$0.15 a share. See current BioAnalysis. Buy around $40 with
a target price of $50.
Gilead Sciences (GILD)
3-27-97 24.88
58.75
5.61
245.59
844.72
88:NC
GILD`s fundamentals remain strong and we continue to rate as a buy below $60 with a target price of $71. See November 2003 and current BioUp-
dates for more comments.
