Medical Meeting Alert
Two major medical meetings are taking
place within the next five days that will direct investor attention to several
companies. The American Urological Association’s annual meeting starts
this weekend and two specific companies will be under scrutiny. Icos Corp.
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a company in Microscoft’s Bill Gates’ portfolio, is presenting Phase III
clinical data on its new drug Cialis to treat erectile dysfunction. This drug
works differently than Pfizer’s blockbuster Viagra and preliminary data show it
to act faster in causing erections with its effects lasting longer. The stock
price is close to its 52-week high. However, I suspect it will go higher early
next week as the presentation approaches, given the size of the market targeted.
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Praecis Pharmaceuticals
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presents Phase III clinical data, in collaboration with Amgen, on the efficacy
of its new hormonal treatment for advanced prostate cancer compared
to existing treatment. I expect this data to be positive and the stock may show
some movement because of it.
The yearly meeting of colorectal surgeons starts this weekend in San Diego and Genzyme
BioSurgical
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present clinical data on its new product to prevent adhesions, also
known as scar tissue, after major abdominal surgery. Post-surgical scar tissue
is a major health problem, causing recurrent bowel obstructions that lead to repeated
hospitalizations and more operations. It is a vicious cycle. Today, there
is no good treatment for this major problem that greatly soaks up health care
dollars. This new product is a synthetic material placed inside the abdominal
cavity at the end of surgery to prevent scar tissue from forming at the incision
site. I anticipate Genzyme BioSurgical’s data to support the use of their
product in preventing surgical adhesions. Given the enormity of the market and
the fact that this product is unique and
easy to use, expect the company to attract investor interest right up to the
presentation on Monday.