PROHOST NEWS AND COMMENTS MAY 9, 2004

Today's news look good, but it seems that we are programmed to never enjoy present good news but, instead, endure pessimistic projections of what bad thing could happen in the next day, the day after or later on. Is this a major reason for the extraordinary stress that is driving many people crazy; drive a son to shoot his mother in the day of mothers, only one floor above other sons and daughters celebrating their mothers? The news is good today. As a matter of fact there is plenty of good news other than the bad one coming from one giant firm’s negative quarterly results. Wake up and look around you. We are capturing the terrorists who are messing up the world. The real estate is doing very well at this moment. Biotechnology is on the road to solving the problems of cancer, viral diseases and chronic diseases. The shopping centers are visited by thousands of consumers and the weather is great. Please do not forget about today. Do not calculate and analyze and drive yourself crazy about what bad thing could happen after today’s delight. Nobody knows about tomorrow. Only birds know that they will surely eat. 

 Eye  On

EXELIXIS(EXEL) 

Exelixis (EXEL) achieved two milestones totaling $35 million under its collaboration agreement with GlaxoSmithKline (GSK). The first milestones,  woth $30 million, was the submission of the investigational new drug (INDs) applications for XL880 in December 2004, and XL820 and XL844 in April 2005. All three of these compounds have shown excellent preclinical efficacy in a variety of tumor models.¹ The Phase I trial for XL880 is underway and the Phase I trials for the other two compounds will commence upon FDA approval. The payment recognizes the fact that Exelixis has advanced internally derived compounds into clinical development faster than originally anticipated, and is intended to help support the consequent acceleration of clinical expenses. The second milestone payment, totaling $5 million, was achieved as a result of progress that Exelixis has made in earlier stage programs.

1. The filing of these INDs brings the number of compounds to six that Exelixis has internally generated and brought into clinical development in the past two years.

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