ABGENIX - Biotechfirma mit GROSSER Zukunft

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17.02.00 11:43

1061 Postings, 7764 Tage tgk1ABGENIX - Biotechfirma mit GROSSER Zukunft

News February 16, 07:31 Eastern Time

                            Cell Genesys Nets $168 Million From Sale of 25 Percent of Abgenix Equity Ownership Current Cash Position of Approximately $230
                            Million Will Drive Expansion Of Clinical Product Opportunities

                            FOSTER CITY,  Calif., Feb 16, 2000 /PRNewswire via COMTEX/ --  Cell Genesys,
                            Inc. (Nasdaq: CEGE) announced that the company will receive today net proceeds
                            of approximately $168 million from the sale of 840,000 shares of common stock of
                            Abgenix, Inc. (Nasdaq: ABGX) which was priced at $210 per share. This sale was
                            part of a follow-on offering by Abgenix which had been increased to 3,000,000
                            shares due to demand which in turn allowed Cell Genesys to increase its
                            participation in the offering on a pro-rata basis. Additionally, the
                            underwriters have an option to purchase up to an additional 450,000 shares of
                            which 126,000 shares would be contributed by Cell Genesys. Excluding the
                            exercise of this over-allotment option, Cell Genesys' cash position will
                            increase to approximately $230 million, and the company will retain ownership of
                            2,552,034 shares of Abgenix representing approximately 12.5 percent ownership on
                            a primary basis. Cell Genesys expects that the majority of the capital gains
                            relating to this transaction will be sheltered by previous net operating loss

                            "The overwhelming success of the Abgenix stock offering will strengthen our cash
                            position to an exceptional level for a company at our stage of development. At
                            the same time, by retaining 2.5 million shares of Abgenix, we continue to have
                            significant upside potential and believe that Abgenix has a very exciting
                            future," stated Stephen A. Sherwin, M.D., chairman and chief executive officer
                            of Cell Genesys. "With our new financial resources plus the value of our
                            retained ownership in Abgenix, Cell Genesys can more aggressively execute on our
                            ongoing programs in cancer and hemophilia as well as pursue new product
                            opportunities from within our current portfolio or obtained through acquisition.
                            We intend to do everything we can to maximize the opportunities ahead of us and
                            translate that into increased value for our shareholders."

                            Cell Genesys has a diverse product pipeline with ongoing programs in cancer,
                            hemophilia and other serious diseases. The company's lead clinical program is a
                            treatment vaccine for cancer called GVAX(R) cancer vaccine, which is currently
                            being tested in multicenter Phase II clinical trials for prostate cancer and
                            Phase I/II clinical trials for lung cancer. Preliminary encouraging results,
                            including objective measures of antitumor activity, have been observed in both
                            the prostate cancer and lung cancer GVAX(R) clinical trials leading the company
                            to initiate the multicenter trials which are currently under way. GVAX(R) cancer
                            vaccines for prostate and lung cancers are being developed through a worldwide
                            collaboration with the pharmaceutical division of Japan Tobacco. Cell Genesys
                            currently retains commercial rights to other potential cancer applications of
                            GVAX(R) cancer vaccine.

                            Cell Genesys also has a deep pipeline with respect to gene therapy programs in
                            hemophilia, cancer, cardiovascular disorders and Parkinson's disease. Proof of
                            principle has been demonstrated in preclinical studies for each of these four
                            programs, and Cell Genesys' strong financial position now enables the company to
                            pursue certain of these programs, most notably hemophilia, more aggressively.
                            With respect to hemophilia, Cell Genesys plans to take advantage of two
                            different gene delivery systems, more than 90 patent filings pertaining to these
                            two technologies, enhanced manufacturing capabilities as well as the substantial
                            increase in its financial resources to pursue this program. Cell Genesys
                            possesses the largest patent estate in gene therapy including more than 220
                            issued or granted patents and over 335 pending patent applications.

                            Cell Genesys is focused on the development and commercialization of gene
                            therapies to treat cancer and other major, life-threatening diseases. The
                            company is conducting two multicenter Phase II human clinical trials for its
                            GVAX(R) cancer vaccine in prostate cancer and plans to initiate a multicenter
                            Phase I/II trial of GVAX(R) vaccine in lung cancer. Preclinical stage programs
                            include gene therapy for hemophilia, cancer, cardiovascular disorders and
                            Parkinson's disease. Cell Genesys' assets outside gene therapy include its
                            minority ownership of Abgenix and the company's licensing program in gene
                            activation technology. For additional information, please visit the company's
                            web site at www.cellgenesys.com.

                            Abgenix, which was formed as a wholly-owned subsidiary of Cell Genesys in 1996,
                            is a biopharmaceutical company that develops and intends to commercialize
                            antibody therapeutic products for the treatment of a variety of disease
                            conditions, including transplantation-related diseases, inflammatory and
                            autoimmune disorders, cardiovascular disease, infectious disease and cancer.

                            Statements made herein, other than statements of historical fact, including
                            statements about the application of the company's financial assets, the value of
                            its equity interest in Abgenix, progress reports and plans for GVAX(R) clinical
                            trials, the future of the collaboration with Japan Tobacco, the company's
                            progress and results and timing of clinical trials and preclinical programs in
                            cancer and hemophilia gene therapy and others, marketability of potential
                            products and therapies and the nature of product pipelines are forward-looking
                            statements and are subject to a number of uncertainties that could cause actual
                            results to differ materially from the statements made, including risks
                            associated with the success of Cell Genesys' and Abgenix's research and
                            development programs, clinical trials, the regulatory approval process for
                            clinical trials, competitive technologies and products, patents, continuation of
                            corporate partnerships with JT and others and the need for additional
                            financings. For information about these and other risks which may affect Cell
                            Genesys, please see the company's Annual Report on Form 10-K dated March 31,
                            1999 as well as Cell Genesys' reports on Form 1O-Q and 8-K and other reports
                            filed from time to time with the Securities and Exchange Commission.

                            SOURCE Cell Genesys, Inc.

(schaut Euch mal den Chart an)

Gruß TGK


17.02.00 11:58

39 Postings, 7591 Tage zepterRe: ABGENIX - Biotechfirma mit GROSSER Zukunft

Abgenix ist eine gute Firma,ohne Frage,aber schon sehr teuer!
Da schau Dir mal lieber die am neuen Markt notierte Morphosys an.
In einem Vergleich mit der Peer-Group Abgenix und Medarex hinsichtlich der
Marktkapitalisierung ergibt sich,dass Morphosys bei gleicher Bewertung
ca.1000 euro wert sein müßte.
Hier besteht also erheblicher Nachholbedarf!  

17.02.00 12:18

64265 Postings, 7663 Tage Kickyund wie wärs mit was wirklich Spekulativem?

oder sch au Dir mal die spekulativen Werte Creative Biomolecules CBMI ,Immune Response IMNR und Caprius CAPR an,gibt´s auch in Deutschland.  

   Antwort einfügen - nach oben