Entremed (ENMD)

[C_Peptide]

cycle dude, I doubt that piece of history is likely to be repeated with any kind of consistency. The ES, AS animal paper to which you refer was the 27-Nov-97 issue of Nature. The "moon shot" was precipitated by a page one article in the Sunday NYT, on 03-May-98, by Gina Kolata. That article added no significant information to what had already been published, except to include the infamous and disputed Watson quotation, "Judah is going to cure cancer in two years."

Much has been written about "Gina Kolata Day," from the perspectives of investing, journalism, ethics, science policy, and medicine, with many viewpoints, including a number of widespread distortions and falsehoods about the roles of Ms. Kolata, EntreMed, and Dr. Fokman. In the biomedical investing and reporting communities it remains one of those flashbulb memories, like an assassination. I don't think we will see a similar event, certainly not regarding EntreMed, any time soon.

The time interval between the reporting of the science and the wild speculative spike in the stock price had little to do with the amount of time it take scientific findings to be recognized by "the street," an a lot to do with the imagination of the investing public being captured by an over-the-top comment by a Nobel prizewinner (possibly misquoted), given over-the-top placement in what is perhaps the most widely read Sunday publication in the world.

In any case, the Duke HIF-1alpha "master switch" findings were published in May 2004, so if you assume a four month delay, the "moon shot" would have been in September, a distinctly non-moon-shot region of the ENMD chart.

Best Regards,
C-Peptide