Biotech Values

[daved]

Re call to GTCB and LEO. This morning's PR confirmed my "baseless" fears.

"GTC said it expects to use $26 million to $29 million of cash in 2007 for forecasted sales of ATryn in the approved indication as well as to LEO for its Phase II study for severe clotting associated with sepsis. "

Add this to the 20 odd mil spent on the LEO progam in 2006. All this for production scale-up. For the 200 patients to be enrolled in the Phase II DIC trial that means a cost of over $200,000 in GTCB clinical product cost per patient.

Per Tom Newberry the enrollment process will take a year. When results are evaluated this "scale up" may have to be renewed for Phase III. It's too early to tell.

Dave