Biotech Values

[DewDiligence]

Another IMCL misstatement from David Miller:

http://www.minyanville.com/articles/ImClone-Amgen-Genentech-Dendreon/index/a/12868

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May 18, 2007

ImClone (IMCL) has critical data for its lead drug Erbitux coming at ASCO, the so-called “Crystal” trial. Vectibix, Amgen’s (AMGN) competitive drug, failed a roughly similar trial to much fanfare and damage to Amgen’s stock. So, all eyes are on the Crystal data to be released at ASCO.
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No, David, the Vectibix PACCE trial (the one that failed due to high toxicity) was not “roughly similar” to the Erbitux CRYSTAL trial. PACCE included dual biologics—Avastin+Vectibix—added to chemotherapy and it thus was a very, very different kind of trial from CRYSTAL, which tests front-line chemo +/- Erbitux.

Readers of this board may recall another gaffe that Miller made with respect to IMCL when he reported in early 2006 that Erbitux sales were declining: #msg-9839046. In reality, Erbitux sales were growing at about 40% year-over-year at the time that Miller wrote that! (Miller subsequently claimed he was misquoted.)

David, my advice to you is to keep quiet about matters pertaining to IMCL. You’re a fine asset to this message board but, when it comes to IMCL, you do not seem to know what you are talking about.