BSR_Dave: YMI: Did you state this? Thanks!
Biodome - David Miller - 3:41 PM
ImClone (IMCL) has a nearly $3B market cap on the strength of a drug that sells about $400M a year now and is declining in sales because patients and doctors decided they hate the rash. Amgen's (AMGN) panitumumab is looming as competition, billed as a "less-toxic" version. YM Bioscience's (AMEX:YMI) nimotuzumab has no rash or GI toxicity. If "nimo's" efficacy in early trials is confirmed in pivotal trials, both Erbitux and p-mab will be abandoned by the marketplace.
I share this quick outline of this situation because there are several people who seem to think ImClone deserves a fairly significant multiple above the current market cap. If ImClone gets bought significantly above where it is now, I think that's a clear signal the feeding frenzy I've said is coming in the sector has arrived.
position in YMI
"Illegitimacy is something we should talk about in terms of not having it."
- Dan Quayle
