Biotech Values

[DewDiligence]

OXGN update:

I just confirmed with OXGN that CEO Fred Driscoll’s comment at the Lehman presentation on March 4 was not intended to convey plans for a new trial in AMD. Rather, Driscoll meant to say that a new trial will be started in myopic macular degeneration, as previously announced.

I continue to expect that OXGN will move toward emphasizing myopic macular degeneration, where most patients are relatively young, rather than AMD, where patients are old and frequently have heart problems. This is simply good business sense on OXGN’s part, and it is a tacit admission that CA4P is probably too toxic to be a big-selling drug in AMD.