ImClone Systems Inc (formerly IMCL)

[biophud]

Price predictions post ASCO data.

Identifying the good biotech companies is not the difficult part. The difficult part is trying to guess how the market will react (I recall Jim McCamant making a similar statement on CNBC).

I think this statement applies to IMCL going into ASCO. I’m positive on IMCL on multiple levels (Erbitux data, lung data, K-Ras, and pipeline).

I think that K-Ras data is a long term positive for IMCL; however, this data could also be used to argue that there will be decreasing sales (at least initially).

I’m debating adding to my position in the low 40s. I can envision a 10-20 point increase following the data. I can also imagine a pull back to the low 30s.

biophud