Biotech Values

[DewDiligence]

Re: OXGN

>>Dew I know you have raised this issue about OXGN before but they keep proceeding and now have about 10 phase I and II studies underway. Are you still convinced this is a problem?<<

Hello, dia76ca. Yes, CA4P’s cardiotoxicity remains a major problem in AMD. I don’t think the drug has a chance to make it in AMD unless the company can develop a local formulation, which is something OXGN has been talking about for a long time with nothing concrete to show.

In myopic macular degeneration (MMD), the patients are younger and much less apt to have a heart condition; hence MMD appears to be a better fit for CA4P than AMD.

Clinical success in OXGN’s cancer program may still be achievable, but I lost interest in the company after the mishap in AMD.

>>Have the company ever publically addressed this issue?<<

Not as directly as they should have. However, management did concede at last year’s annual meeting that the AMD program will not be continued unless they can develop a local formulation.

>>Have any of the very competant Scandinavian posters(eg. kokostrollet) ever responded?<<

When I raised this issue almost a year ago, kokostrollet et al said my hypothesis was preposterous and labeled me a basher and short-seller. This is the pattern that has emerged on virtually every message board where I’ve expressed skepticism about a company’s programs and prospects. Regards, Dew