Club Biomed &endash; Meeting Minutes &endash; 19 Jan 2005
Social phase, accepting contributions and action items.
(1) Carlos presented an opportunity to work with Joel Meyer to focus on companies with specialities such as RNAi, protein chips, in other words, companies we buy stuff/services from. IF you are interested please contact Carlos and he will make the connection to Joel.
(2) We discussed whether or not there should be a new level of member, the Associate Member &endash; these would be members who have contributed some $$ to the club in the past but have not attended meetings in 6 months or so and have ceased to contribute funds. Thos who have not contributed any funds will be removed from membership roster.
(3) There is a plan to assign stocks to all members. John passed around a clip board for everyone to sign up what stocks they are watching, have presented or plan to present so we know who is doing what before stocks are assigned.
Symbol Price Qty Price Paid Gain $ Gain % Market Val
Mini-report on Genentech (DNA). Carlos, Andrea, Asif. Why they sold and whether we should consider purchasing it again? The group presented their strategy and reviewed that they bought 100 shares at 47.50 and sold a few weeks later at 55.00. The partnership decided to let the group be the watchers and come back next month if they want re-empowerment for buying/selling again.
Call for nominations. We need a new Secretary. Yosif and Sebastian were nominated.
Natioinal meeting overview: American Society of Hematology. By Ethyl Cesarman. She reviewed the meeting with respect to interesting developments for club Biomed. She emphasized chiron because they have and antibody that she thinks may be very important. She also commented on the number of papers discussing celgenes line if Imeds (We had studied the company, but never bought it because it did not hit our price target.)
We decided it might be interesting to study a company we have looked at before. Don was interested in the mechanism of toxicity of proteosome inhibitors and wanted to study Millennium. Yosif was also interested and volunteered to pair up with him.
Report on Palatin (PTN). John, Don, Laura, & Sebastian. Emerging biotech, $125 million. Not a long term hold as they don't think the discovery platform is very hot. PT-141, intranasal drug for male/female sexual dysfunction. CNS mechanism &endash; activates neurons in hypothalamus - which is different than Viagra etc. Not contraindicated with those taking nitrates for heart disease. Take it 30 minutes before intercourse and it works faster than others. Because of CNS mechanism it is indicated for females also &endash; women are underserved by other medications. It is a growing market as baby boom population increases in age. Phase II clinical studies in females underway, Phase I completed. Phase II in men published, Phase III are beginning, got $$ from Kimg Pharmacia. The good and bad Š GOOD: Effective, 70% say better than Viagra, effective in populations where Viagra is not, rapid onset, no BP effects so safer, reasonable PK and dose response; BAD: Side effects, flushing, nausea, headache, real mechanism not completely clear, competition, not FDA approved but phase III starting. Š CONTINUE AT NEXT MEETING Š
Possible plans for Feb
-- Submitted by Andrea Hooper