Replies to post #9602 on Biotech Values

[poorgradstudent]

If a company is working out the method of action diligently rather than using a paucity of data to implicate its drug in molecular pathways that are popular to investors, then I'll give them credit.

Genaera's presentations and published work on squalamine don't provide indication that the mechanism of squalamine is well researched. Rather, they provide you what are supposedly key aspects of the mechanism, and then quickly draw arrows to anti-angiogenesis and apoptosis or whatever other "cool" pathway there is to draw the public.

For example, there is nothing presented to demonstrate why their noted apoptosis is selective or even specific to a subpopulation of endothelial cells rather than simply hitting all endothelial cells. Those looking at the scientific method of action (if they're so inclined) would legitimately ask this question; those that are not interested in it will simply see the apoptosis term and not question selectivity, specificity etc...

Antagonizing calmodulin signaling in endothelial cells and the adjacent smooth muscle cells would have the primary effect of inducing hypotension. Does squalamine induce significant hypotension? If not, then there are some investors who keep this in mind when assessing the company's future claims with respect to its MOA.

Focusing on selective aspects of the method of action while leaving obvious questions unanswered do not suggest that they have the method of action worked out.

>So what makes them stand out so much if, as you say, they provide "no more or less" than the rest of the companies you refer to?<

I made no comment that suggested Genaera stands out in their work, and don't see anything in Genaera's preclinical work that makes them stand out. In fact, they're pedestrian in this regard compared to other early stage companies that have been scientific powerhouses. See Tularik or Exelixis for examples.

If you want to discuss the clinical data, that's one matter. If you want to discuss the preclinical data, then that's another matter. Both should be stringently examined.