Jiesen tries to take over the world

[jiesen]

Sold 1% NFI here at 7.4, bringing my total down to 3% NFI.

[jiesen]

Sold a 2% position in LJPC at 7.0. That still leaves over 30% of my port in it, though. I'm considering putting this 2% into NFI again either here or at maybe a bit closer to 4.

bought back 1% LJPC today at 5.7. Will look to pick up a little bit more, too, if this keeps dropping without any news over the next few months. I plan to keep my LJPC at around a 25-30% position for awhile. LJPC's drug approval will make me HUGE!!! (in a few years anyway)

[jiesen]

sold a 1% position (total) in a couple of mutual funds, which I plan to reinvest back in an S&P-like index fund when the market is about 10% below where it is now. Meantime, I'll sit on the cash and collect my 4%-5% interest.

[IIC]

sold a 1% position (total) in a couple of mutual funds, which I plan to reinvest back in an S&P-like index fund when the market is about 10% below where it is now. Meantime, I'll sit on the cash and collect my 4%-5% interest.


When do you think that might be?

[jiesen]

When do you think that might be?

either next month or next year. Either will work for me.

[jiesen]

I guess it could be sooner, though...

[jiesen]

bought back 1% LJPC today at 5.7. Will look to pick up a little bit more, too, if this keeps dropping without any news over the next few months. I plan to keep my LJPC at around a 25-30% position for awhile. LJPC's drug approval will make me HUGE!!! (in a few years anyway)

I'm making some money today!
(oh, and in case you're interested, NBB, there are options on this one now.)

http://biz.yahoo.com/prnews/070524/lath022.html?.v=99
La Jolla Pharmaceutical Company Reports Riquent(R) Well Tolerated in Three Studies at International Lupus Congress
Thursday May 24, 7:30 am ET


SAN DIEGO, May 24 /PRNewswire-FirstCall/ -- La Jolla Pharmaceutical Company (Nasdaq: LJPC (http://finance.yahoo.com/q?s=ljpc&d=t) - News (http://finance.yahoo.com/q/h?s=ljpc)) today announced that it presented three papers related to Riquent® (abetimus sodium), its drug candidate for systemic lupus erythematosus ("lupus" or "SLE") at the 8th International Congress on SLE. The first presentation reviewed recently announced safety and interim antibody data from the current Phase 3 study which highlighted the definitive and significant dose response observed between the 100 mg, 300 mg and 900 mg doses of Riquent compared with placebo (p=0.0001). The second presentation reviewed the safety and drug levels of Riquent at doses up to 2400 mg in healthy volunteers and the third, cardiovascular safety in healthy volunteers.

"These three presentations provide important, additional data that continue to indicate that Riquent is well tolerated even at much higher doses," said Deirdre Y. Gillespie, M.D., President and Chief Executive Officer of La Jolla Pharmaceutical Company. "Unlike other medications currently used to treat lupus that can severely suppress the immune system and can result in serious infections, Riquent is highly specific and designed not to suppress the healthy functions of the immune system. We believe that Riquent has the potential to be highly efficacious and well-tolerated -- it is designed to specifically target and reduce antibodies to double-stranded DNA (anti-dsDNA) that are believed to cause lupus renal disease."

Interim Antibody Data
Michael Tansey, M.D., Ph.D., the Company's Chief Medical Officer, presented on Thursday, May 24, 2007, a detailed review of the recently announced interim antibody reduction data from the current international Phase 3 clinical trial of Riquent in a talk entitled: "Effect of Three Doses of Abetimus and Placebo on ds-DNA Antibodies in Patients with SLE and a History of Renal Flare -- An Interim Analysis."


In the talk, Dr. Tansey highlighted data supporting the dose response observed between the 100 mg, 300 mg and 900 mg doses of Riquent compared with placebo (p=0.0001). The reductions in median antibody levels between the Riquent treatment groups and the placebo treatment group at week 8 were 100 mg: 30%; 300 mg: 40%; 900 mg: 58% (p=0.0032, p<0.0001, p<0.0001, respectively). To date, the adverse event profile for all patients in the study, including those treated with the 300 mg and 900 mg doses, does not appear to differ from that seen in previous studies, where only 100 mg of Riquent was the treatment dose.
Riquent Drug Levels and Safety at Higher Doses


In addition to Dr. Tansey's talk, the Company presented two posters detailing data from previously completed clinical safety studies of Riquent. The first poster, "Safety and Pharmacokinetic Assessment of Abetimus Sodium in Healthy Volunteers," evaluated the safety, tolerability and pharmacokinetics of Riquent at doses up to 2400 mg in healthy male and female volunteers. Riquent was well tolerated at all doses. As seen with many DNA-containing drugs, Riquent treatment was associated with a dose-dependent increase in activated partial thromboplastin time (aPTT), but not prothrombin time (PT), which was not considered clinically significant.


Electrocardiographic Safety
The second poster presentation, "Electrocardiographic Safety Assessment of Abetimus Sodium in Healthy Volunteers," summarized cardiovascular safety assessments including the potential to increase QT wave prolongation following Riquent treatment at doses of 100 mg and 300 mg. Studies to evaluate the potential of a new drug to increase QT wave prolongation are standard safety assessments of most drugs in development. The data demonstrated no effect of abetimus on changes in QT wave prolongation from baseline. In this study, Riquent was well tolerated and the incidence of adverse events was similar in the placebo, 100 mg and 300 mg groups. In addition, patients exhibited no serious adverse events, and no subject discontinued the study.


About Riquent


Riquent is being developed to specifically treat lupus renal disease by preventing or delaying renal flares, a leading cause of sickness and death in lupus patients. Riquent has been well tolerated in all 13 clinical trials, with no serious Riquent-related side effects identified to date. Riquent's only known biological activity is the reduction of circulating levels of anti-dsDNA antibodies. Increases in these antibodies are associated with an increased risk of renal flare. Although clinical benefit has not yet been proven, Riquent treatment has significantly reduced these antibody levels in all clinical trials where they were measured.


About Lupus


Lupus is a chronic, potentially life-threatening autoimmune disease. About 90% of lupus patients are female, and many are diagnosed with the disease during their childbearing years. Approximately 50% of lupus patients have renal disease, which can lead to irreversible renal damage, renal failure and the need for dialysis, and is a leading cause of death in lupus patients. Latinos, African Americans and Asians face an increased risk of serious renal disease associated with lupus. The current standard of care for lupus renal disease often involves treatment with high doses of corticosteroids and immunosuppressive drugs that can cause severe side effects including diabetes, hypertension and sterility, and may leave patients vulnerable to opportunistic infections. To date, no lupus specific drug has been approved in the U.S.


About La Jolla Pharmaceutical Company


La Jolla Pharmaceutical Company is dedicated to improving and preserving human life by developing innovative pharmaceutical products. The Company's leading product in development is Riquent®. The Company has also developed small molecules to treat various other autoimmune and inflammatory conditions. The Company's common stock is traded on The NASDAQ Global Market under the symbol LJPC. More information about the Company is available on its Web site: http://www.ljpc.com (http://www.ljpc.com/).

[jiesen]

http://biz.yahoo.com/prnews/070524/lath012.html?.v=96

FDA Approves Gen-Probe's Automated PROCLEIX(R) TIGRIS(R) System to Test Donated Blood With the PROCLEIX ULTRIO(R) Assay
Thursday May 24, 4:02 pm ET

SAN DIEGO, May 24 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO (http://finance.yahoo.com/q?s=gpro&d=t) - News (http://finance.yahoo.com/q/h?s=gpro)) announced today that the U.S. Food and Drug Administration (FDA) has approved the Company's PROCLEIX® TIGRIS® system, the first fully automated molecular diagnostics instrument, for use with the PROCLEIX ULTRIO® assay.

"This approval represents another important milestone in the growth of our blood testing business," said Henry L. Nordhoff, Gen-Probe's chairman, president and chief executive officer. "With the PROCLEIX ULTRIO assay on the PROCLEIX TIGRIS system, customers can safeguard donated blood against dangerous viruses using a fully automated, high-throughput system that maximizes the efficiency of testing and minimizes the potential for human error."

Gen-Probe's blood screening products are marketed worldwide by Chiron, a business unit of Novartis Vaccines and Diagnostics, Inc.
The PROCLEIX TIGRIS system was approved with the PROCLEIX ULTRIO assay to screen donated blood, plasma, organs and tissue for HIV-1 and hepatitis C virus (HCV) in individual blood donations or in pools of up to 16 blood samples. The system and assay also detect hepatitis B virus (HBV) in blood donations that are HBV-positive based on traditional serology tests for HBV surface antigen and core antibodies. As expected, the system and assay have not been approved at this time to screen donated blood for HBV, as the initial clinical studies were not designed to, and did not, demonstrate HBV "yield." Yield is defined as HBV-infected blood donations that were intercepted by the PROCLEIX ULTRIO assay, but that were initially negative based on the serology tests. Gen-Probe and Chiron have initiated a post-marketing study to demonstrate HBV yield and gain the associated donor screening claim.

The fully automated, high-throughput PROCLEIX TIGRIS system can process 1,000 blood samples in about 14 hours, a level of productivity that facilitates testing in smaller pool sizes, which in turn can increase assay sensitivity and blood safety.

In October of 2006, the FDA granted marketing approval for the PROCLEIX ULTRIO assay to run on the Company's semi-automated instrument system. Like the approval announced today, the assay was approved to screen donated blood, plasma, organs and tissue for HIV-1 and HCV in individual blood donations or in pools of up to 16 blood samples, and to detect the presence of HBV.

In March of 2007, the FDA approved another Gen-Probe test, the PROCLEIX WNV (West Nile virus) assay, to screen donated blood on the TIGRIS system.

In addition, Novartis announced last week that Health Canada had approved the PROCLEIX WNV assay for use on the PROCLEIX TIGRIS System.

Trademarks
PROCLEIX and ULTRIO are trademarks of Novartis Vaccines and Diagnostics, Inc. TIGRIS is a trademark of Gen-Probe.

About Gen-Probe
Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs) that are used primarily to diagnose human diseases and screen donated human blood. Gen-Probe has more than 20 years of NAT expertise, and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,000 people. For more information, go to www.gen-probe.com (http://www.gen-probe.com).

Caution Regarding Forward-Looking Statements
Any statements in this press release about Gen-Probe's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as believe, will, expect, anticipate, estimate, intend, plan and would. For example, statements concerning new products, clinical trials, potential regulatory approvals and customer adoption are all forward-looking statements. Forward-looking statements are not guarantees of performance. They involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by any forward-looking statement. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include but are not limited to: (i) the risk that the post-marketing study for the PROCLEIX ULTRIO assay will not be successful, (ii) the risk that additional claims for the PROCLEIX ULTRIO assay and the PROCLEIX TIGRIS system will not be granted in the timeframes we expect, if at all, (iii) the risk that we may not earn or receive milestone payments from our collaborators, (iv) the possibility that the market for the sale of our new products, such as our PROCLEIX ULTRIO assay, PROCLEIX WNV assay and PROCLEIX TIGRIS system, may not develop as expected, (v) we may not be able to compete effectively, (vi) we may not be able to maintain our current corporate collaborations and enter into new corporate collaborations or customer contracts, and (vii) we are dependent on Chiron and other third parties for the distribution of some of our products. The foregoing describes some, but not all, of the factors that could affect our ability to achieve results described in any forward-looking statements. For additional information about risks and uncertainties we face and a discussion of our financial statements and footnotes, see documents we file with the SEC, including our most recent annual report on Form 10-K and all subsequent periodic reports. We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of subsequent events.

Contact: Michael Watts Sr. director, investor relations and corporate communications 858-410-8673

Source: Gen-Probe Incorporated

[peanuts]

Hey Jiesen, congrats on your recent marathon completion.

http://www.enterstageright.com/archive/articles/0602/062402gonzalezspeedy.jpg

[jiesen]

Hey Jiesen, congrats on your recent marathon completion.

http://www.enterstageright.com/archive/articles/0602/062402gonzalezspeedy.jpg
Thanks, Peanuts! I met my goal of beating last year's time by an hour, but missed my stretch goal of qualifying for Boston by 7 minutes. Doh! I think my legs had a stop-loss set for 24 miles that I didn't know about.

[jiesen]

my limit order triggered this morning for 4.43. Just a penny over the low today! Hopefully this turns out to be the bargain that it appears right now.

[Websman]

my limit order triggered this morning for 4.43. Just a penny over the low today! Hopefully this turns out to be the bargain that it appears right now.

Nice job! I'm going to run this one through the VTP screen and bring it up at the next inner circle meeting.

[jiesen]

Will GPRO set an all time high again today, for the third time in three days? Getting pretty close now...

http://finance.yahoo.com/q/bc?s=GPRO&t=5d

[jiesen]

Will GPRO set an all time high again today, for the third time in three days? Getting pretty close now...

http://finance.yahoo.com/q/bc?s=GPRO&t=5d

Bought a ~5% position in GPRO this weekend at 44.4 (15% employee discount from the Jan 3 price). Meant to sell half today for a 35% profit, but since the trade isn't settled yet I'm stuck with the whole purchase for a few more days... hopefully the price doesn't tank in the meantime, and I can still take my hard-earned profit!

[jiesen]

Bought a ~5% position in GPRO this weekend at 44.4 (15% employee discount from the Jan 3 price). Meant to sell half today for a 35% profit, but since the trade isn't settled yet I'm stuck with the whole purchase for a few more days... hopefully the price doesn't tank in the meantime, and I can still take my hard-earned profit!

sold half of my GPRO stock today at 60.0 for a 35% profit.

[jiesen]

added another 1% to my LJPC position here at 4.5. Got a feeling something is about to happen with it, as it's been quiet for a while, and the uptick today may be the start of something big. We'll see!

[jiesen]

Added another 2% of AMLN to my portfolio today at 41.4. I'm now up to 4% AMLN.

Sold half of my AMLN (2%) here at 47.7, which is about 15% above where I picked these shares up 3 months ago. Not a bad return, imo. I'd consider doing this trade again, for sure! But I may put the money into LJPC instead, depending on how much lower it decides to go.

[ParkTwain]

AMLN was pumped last night on CNBC's "Fast Money" show. Did you see it?

[jiesen]

AMLN was pumped last night on CNBC's "Fast Money" show. Did you see it?

nope, all the more reason to take the profit while it's available. I just noticed that the price has gone up, but nothing else has changed.

Long-term, I'll still hold AMLN, because I believe there's plenty of potential left with the products in the pipeline (these seem to be on track to do very well). The immediate results aren't really exceeding my expectations, though, as much as the price movement is. (I am paying attention to script growth and earnings.)

[jiesen]

I just took a 3% position in TUNE today at 5.55. Why not? I figure I might as well buy something while there's so much blood on the street, and what better way to do it than by picking up a hot stock on a breakout like this one. I don't know much about it other than it has a great reason to break out right now- earnings are breaking out, so that means the stock should, too.

So with that in mind, I'm keeping my horizon and patience short with this one. One week is probably all I'm going to give this one to pay off, and any drop below 5.1 will stop me out today. For that risk, I'm expecting a 10% reward, so my target is 6.1. I think the odds are in my favor. After all, I've got Doug on my side on this one.

[jiesen]

I sold out of my TUNE position today for a loss of 0.02/shr. It didn't seem to be happening for me, so I'll look for a better place to put the money.

Looking back, I probably just got overexcited here, and shouldn't have been messing with this one in the first place.

[jiesen]

added 1% to my NFI position today (at 6.1).

go ahead and say it, NBB, you know you want to...

[jiesen]

added 1% to my NFI position today (at 6.1).

go ahead and say it, NBB, you know you want to...

Sold those shares today for a 7% profit at 6.5. Yikes, that's one trade I feel lucky to have gotten out of alive!

[jiesen]

added another 1% to my LJPC position here at 4.5. Got a feeling something is about to happen with it, as it's been quiet for a while, and the uptick today may be the start of something big. We'll see!

It's beginning to look like that wasn't a bad time to add after all, since it turns out there is a partnership deal in the works!

http://finance.yahoo.com/q/bc?s=LJPC&t=5d

http://www.reuters.com/article/marketsNews/idUKN0934707420070809?rpc=44

That, and the $77M shelf should help LJPC keep the cash pile alit until the trial is done.

from the story:
La Jolla says in partnership talks on Lupus drug
By Toni Clarke
BOSTON, Aug 9 (Reuters) - La Jolla Pharmaceutical Co (LJPC.O: Quote (http://www.reuters.com/stocks/quote?symbol=LJPC.O), Profile (http://www.reuters.com/stocks/companyProfile?symbol=LJPC.O), Research (http://www.reuters.com/stocks/researchReports?symbol=LJPC.O)) said on Thursday it is in "serious" partnership discussions with big pharmaceutical and biotechnology companies over its experimental drug to treat Lupus.
Chief Executive Officer Deirdre Gillespie said in an interview that the company expects to sign a deal by the end of the first quarter of next year, or even earlier.
Gillespie said La Jolla has "serious discussions going on," based on renewed optimism among potential partners following the release of clinical trial data that suggests the drug -- long in development -- may still have a future.
She said the company is considering two possible deal structures: one being a global partnership with a single company; the other being separate deals covering different regions of the world, depending on which would create most value for shareholders.
Regardless of which option it chooses, "we will keep at least part of the United States for ourselves," she said.
La Jolla has been struggling to win approval for its Lupus drug for years.
In 2004, U.S. regulators declined to approve the drug until the company provided more clinical data proving it works.
Now, with a new management in place and a new, more robust clinical trial underway, the company hopes to win back the credibility of investors whose hopes have been dashed more than once.
Earlier this year La Jolla released clinical data from a study of its drug, Riquent, that showed it was well tolerated at higher doses than previously studied. The company is hoping its new trial will show that a higher dose of the drug will improve its efficacy.
Gillespie said the decision to test the drug at 300-milligram and 900-milligram doses, compared with the previously tested 100-milligram dose, was largely a matter of trial and error, but that early data suggests it could work substantially better.
An initial glimpse of efficacy data will be revealed before the end of this year, but Gillespie said potential partners show no sign of waiting for the data to be released.
Many biotech companies these days wait for as much data to be released as possible before signing a deal, because the better the data the better the terms they are likely to win.
But Gillespie said that she is willing to sign a partnership deal early to help rebuild confidence in the drug, in the company's credibility and in the stock.
"That would give me currency to do other things further down the road," she said.
La Jolla's stock rose 5.3 percent to $4.95 late Thursday afternoon on Nasdaq, after rising as high as $5.59 earlier in the day.

[jiesen]

She said the company is considering two possible deal structures: one being a global partnership with a single company; the other being separate deals covering different regions of the world, depending on which would create most value for shareholders.

See, she actually cares about the shareholders, unlike many CEOs.

[jiesen]

Sold those shares today for a 7% profit at 6.5. Yikes, that's one trade I feel lucky to have gotten out of alive!

Damn, I should have held onto those NFI shares. Could have had 9/shr if I had kept it just a couple weeks longer.

[jiesen]

Picked up a 1% position in ANSV today. This one intrigues me, and with the recent FDA approval, I believe it must rise significantly in the near-term. I plan to sell this year with at least a 50% gain (target=$10). If it drops 50%, though, I'll make it a 2% position... Such is the risk of a biotech with $0 coming in.

[billyjoe]

Jiesen,
Was checking out the under $10 stocks today and thought of you when I came across ESMC. Spike , Doug , and Newborn used to post a lot about ESMC 2-3 years ago but nothing recently. Looks promising again . What do you think? Also TUNE keeps popping up on the screens again, maybe you were too early with it.

----------billyjoe

[jiesen]

Heya Billyjoe...

Yeah, TUNE is the story of my life... just didn't have the patience to see it through, would have been pretty good so far, probably still has a ways to go. It seems my patience lasts for the stinkers more often than the winners. Wonder why that is?

Anyway, as for ESMC:

On the surface it looks pretty good, especially with the recent revenue increase (about $10M). Of course on closer inspection that turns out to be a one-time settlement of a lawsuit with Interlase.

This is not a company that $$MM would be comfortable buying- last year they lost $2M.

Still, to me it's interesting, since they did get a recent FDA approval of a glucose analyzer- this should help grow the earnings in the future. The stock seems to be responding well to the news, and it's still more or less inexpensive.

http://finance.yahoo.com/q/bc?s=ESMC&t=1y

Consider that the market cap is $46M*, and the net assets for the company are about $20M. If they can get enough business from this new contraption to generate, say, $4M or so in NET income next year, I'd say it's currently priced at a bargain at $7/shr. Wouldn't be too much of a stretch, considering a couple years ago they were making about $2.5M. But that's where you'd want to do your homework, make sure they're not just going to blow the incoming revenue on wasteful projects. I suggest further reading of the 10-Q filings until you're confident they have a good strategy for making that money before putting up the cash.

http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0000893220-07-001916&Type=HTML
(it's interesting to note that the CEO hired his son and daughter-in-law for $200K total in consulting)

Also consider, glucose monitoring, creatinine, nitrogen analysis- these aren't all that special or difficult to do- barriers to entry aren't so high here, so ESMC probably won't be able to make tons of money off of this latest device. They'll need to have better things in development for future income. Look for a long-term plan with this guy as well.

Good luck with it if you decide to buy!

*And definitely double-check the $46M market cap I pulled from the Yahoo! Finance data, which is quite often incorrect (but always free), before making any investment decision based on it.

[jiesen]

Looks like a molecular biologist/poker player has just put his $10M into LJPC:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_L/threadview?m=tm&bn=10714&tid=59922&mid=59931&tof=4&rt=2&frt=2&off=1

How many more of these purchases does LJPC need to soak up the remaining float? Won't take much now to send this stock soaring...

[jiesen]

added another 1% to my ~20% position in LJPC today at 4.1

[jiesen]

sold those shares today at 4.0 for about a 2% loss. I'll try to pick it back up again later at a lower price.

[jiesen]

picked the shares up again and then some at 3.9

[billyjoe]

Jiesen,
Do you know anything about WGBS? Do they really have a dynamite product that will revolutionize DNA research?

--------------billyjoe

[jiesen]

sorry, Billyjoe... no I don't know anything about it. I tried to give it a decent look, but unfortunately have been too busy lately to give it any more than a glance. Things will hopefully settle down a bit in a month or two for me, but for now I can only say that if you want to put money in stem cell research, your best bets are probably ASTM and STEM. They should both get a decent pop the next time the Governator makes more promises to give money to SS research (which funds arguably may still never make it into a commercial lab, after the state bureaucrats get through with it). Also, for gene-on-a-chip technology (among other products) I'd recommend going with ILMN instead.

This outfit (WGBS) seems likely to run outta steam before getting anything on the market- but again, I've only taken a very quick look. I'll try again to take a better look, but I believe this is one you can take your time to evaluate, as it's likely to keep getting cheaper in the short-term.

[jiesen]

sold half of my GPRO stock today at 60.0 for a 35% profit.

Sold a 2% position at 68 today, still have a few shares left as pure profit.

[jiesen]

just sold about a 1% position in a large-cap index fund today, and am waiting for a big pullback (15-20%) to buy back in with 2%.

[Websman]

just sold about a 1% position in a large-cap index fund today, and am waiting for a big pullback (15-20%) to buy back in with 2%.

Probably not a bad move Jiesen...

So wassup?

[Websman]

I'm thinking about intitianting a position in LJPC here. This thing has been beat down pretty good.

[Websman]

I'm thinking about intitianting a position in LJPC here. This thing has been beat down pretty good.

Just did my analysis. I'll wait a while longer. better prices are yet to come.

[jiesen]

Just did my analysis. I'll wait a while longer. better prices are yet to come.

You're probably right. The trial will take time to produce the results, and all they do during that time is spend money...

[jiesen]

My limit was hit yesterday at about 0.01 for GFCI.PK. I bought in for 0.2, so lost about 95% on this, but I wanted to sell now so I'd have an offsetting loss for my taxable GPRO gains this year. I'm not expecting GFCI to ever be back over a nickel again anyway, and at 0.01 I can at least still pay for the commission on the trade...

[jiesen]

just sold about a 1% position in a large-cap index fund today, and am waiting for a big pullback (15-20%) to buy back in with 2%.

Just bought that 1% position back today, at about 8-9% below where I sold it a couple months ago. The market hasn't pulled back quite as far yet as I think it will, but we could very well see a rally in the meantime, and I'd like to make a quick buck or two off of that if possible... Still waiting for a pullback to a Nasdaq 2200 or so to buy back the rest of this position.

[jiesen]

Sold a 2% position at 68 today, still have a few shares left as pure profit.

Added a 2% position in GPRO at about a $12 discount to market through my employee purchase plan this week, and am now holding about a 3% GPRO stock position. Last month some of my employee options vested, too, giving me about a 3-4% position in GPRO $50 options.

[billyjoe]

Jiesen,
Why don't you post here? Saw your list and as a more than decade long holder of Vanguard Health Fund (VGHCX) I looked up their current top 25 holdings. Among them are DNA ABT LLY AMGN BMY and SGP. This should be a great year for the whole bunch.

-------------billyjoe

[jiesen]

Jiesen,
Why don't you post here? Saw your list and as a more than decade long holder of Vanguard Health Fund (VGHCX) I looked up their current top 25 holdings. Among them are DNA ABT LLY AMGN BMY and SGP. This should be a great year for the whole bunch.

-------------billyjoe

I do post here! It's just that I only post what I do, not what I'm thinking about doing. Unfortunately, I don't have the time to do that so much anymore... I would like to, but my job is keeping me quite busy these days.

[jiesen]

... Also, for gene-on-a-chip technology (among other products) I'd recommend going with ILMN instead.


although... I did throw out one pretty good pick that last time, eh?

http://finance.yahoo.com/q/bc?s=ILMN&t=3m

[jiesen]

Just bought that 1% position back today, at about 8-9% below where I sold it a couple months ago. The market hasn't pulled back quite as far yet as I think it will, but we could very well see a rally in the meantime, and I'd like to make a quick buck or two off of that if possible... Still waiting for a pullback to a Nasdaq 2200 or so to buy back the rest of this position.

Well, Nasdaq nearly made it back to 2200 today, so I bought back about 1% in the large-cap fund again, and will probably add about 2% more after we've dropped another 5% or so from here.

When I placed the order this morning, I thought I'd be getting a better deal than I did, but since it's a mutual fund, it only trades at the end of the day, and by then the market had given back most of that nice discount I thought I'd be getting. (Thanks a lot, Fed!)

[Websman]

The Vulcans are detecting a bargain in LJPC....

[skiracer]

The Vulcans are detecting a bargain in LJPC....

I was looking at it myself. I'm not sure it has found a bottom yet Webs. It's been down as low as 2.50 levels and it could fall below 3. But I think it is getting close to the bottom. I would like to see 3 hold.

[Websman]

I was looking at it myself. I'm not sure it has found a bottom yet Webs. It's been down as low as 2.50 levels and it could fall below 3. But I think it is getting close to the bottom. I would like to see 3 hold.

I think you're right Ski. I'm not quite ready to pull the trigger yet, especially in this brutal market.

[jiesen]

I think you're right Ski. I'm not quite ready to pull the trigger yet, especially in this brutal market.

I'd say that at 3.25 or so, the bottom is in with LJPC! (Of course I've been saying this for months, so take it for what it is...)

News has to be coming any day now, though. They are presenting at a bioconference in a week, so usually news comes out before these, and if not, the 10k is due in a month. There will be a trial update, and any update will convince people that LJPC is still alive and kicking- and drive up the s/p.

Trial data is not due for awhile- but any unexpectedly early positive results will send this through the roof.

[jiesen]

http://biz.yahoo.com/bw/080211/20080211005434.html?.v=1

Now's the time to buy- before everyone has a chance to absorb this PR.
Enrollment to complete next quarter, so the trial will be done next year.

La Jolla Pharmaceutical Company Reports Progress in International Phase 3 Riquent(R) Study
Monday February 11, 7:30 am ET
SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (Nasdaq:LJPC (http://finance.yahoo.com/q?s=ljpc&d=t) - News (http://finance.yahoo.com/q/h?s=ljpc)) today announced significant progress in its ongoing double-blind, placebo-controlled randomized Phase 3 trial of Riquent® (abetimus sodium), its drug candidate for systemic lupus erythematosus ("lupus" or "SLE"), including additional safety data on the trial’s higher doses.

To date, 607 patients have been enrolled in the study atmore than 130 clinical trial sites in 23 countries. Total enrollment in this event-driven trial istargeted for740 patients andis expected to be complete around the end of the second quarter of 2008. The study requires a specified number of renal flare events to be observed.The Data Monitoring Board has completed two safety reviews of the study without identifying any safety concerns. To date, more than 350 patients have been treated in the trial with either the 300 mg or 900 mg dose.
“We have made tremendous progress toward the completion of enrollment in the Phase 3 study,” said Deirdre Y. Gillespie, M.D., President and CEO of La Jolla Pharmaceutical Company. “We have increased the dose nine-fold and are very encouraged that the data continue to indicate that the 300 mg and 900 mg doses of Riquent are as well tolerated as the 100 mg dose was in our previous studies.”
Two interim efficacy analyses are planned in this event-driven trial. The first interim efficacy analysis is now expected in the second quarter of 2008. The second interim efficacy analysis is still expected to occur around the end of 2008.
The Phase 3 study is designed to assess the ability of Riquent treatment to delay the time to renal flare in lupus patients with a history of renal disease and with elevated levels of anti-dsDNA antibodies. A lupus renal flare is a potentially life-threatening increase in inflammation ofthe kidney due to lupus.A renal flare often requires treatment with immunosuppressive agents which can have severe side effects.
Riquent has received an Approvable Letter and Fast Track status from the Food and Drug Administration, and has received Orphan Drug designation. The current trial is being conducted under a Special Protocol Assessment.
About Riquent
Riquent is being developed to specifically treat lupus renal disease by preventing or delaying renal flares, a leading cause of sickness and death in lupus patients. It is also being studied to assess whether Riquent treatment improves proteinuria, as was observed in previous clinical trials. Proteinuria is an indicator of abnormal renal function. Riquent has been well tolerated in all 14 clinical trials, with no overall difference in the adverse event profiles for Riquent-treated patients compared with placebo-treated patients. Riquent specifically reduces circulating levels of anti-dsDNA antibodies. Increases in these antibodies are associated with an increased risk of renal flare. Although clinical benefit has not yet been proven, Riquent treatment has significantly reduced these antibody levels in all clinical trials in which they were measured.

[jiesen]

added a little more than 1% position to LJPC today at 3.1. I'll probably buy again, too, if it gets down to 2.

[Websman]

added a little more than 1% position to LJPC today at 3.1. I'll probably buy again, too, if it gets down to 2.

I'll be looking at buying soon... This is a true bargain.

[jiesen]

yes, I agree! Which is why I just picked up another 1% today at 2.1.

I'm still holding on to another 1% cash to put here, for later...

[Websman]

I just picked up a position in LJPC at 1.98.

Let's make some money!

[jiesen]

yep, all signs are a go on this one- 600+ patients are now in the trial (out of 700 or so needed), the site update out this week shows an increase from 120 to 150 sites running the study, and at the same time, Al Gonzales bought another 0.5M shares. My money is on a successful trial, and I think the rewards will be HUGE if indeed it happens like I predict. I was actually just over at LJP today, (a former coworker owes me some girl scout cookies) and they're still plugging along, doing their thing.

[stojakapimp]

yep, all signs are a go on this one- 600+ patients are now in the trial (out of 700 or so needed), the site update out this week shows an increase from 120 to 150 sites running the study, and at the same time, Al Gonzales bought another 0.5M shares. My money is on a successful trial, and I think the rewards will be HUGE if indeed it happens like I predict. I was actually just over at LJP today, (a former coworker owes me some girl scout cookies) and they're still plugging along, doing their thing.

So I take it you live in San Diego? I work right in La Jolla by Scripps.

[jiesen]

yep, I live in Clairemont just off the 805. I go running in your neck of the woods all the time.

[IIC]

So I take it you live in San Diego? I work right in La Jolla by Scripps.

Well...Everyone knows that the BEST traders are in California...I'm in West LA between Culver City and Westwood

[Websman]

LJPC dropped .23 today??? Now it's up .19 AH???

This is not logical....

[jiesen]

It might have something to do with the general market turmoil combined with the "going concern" news out today- but I think of it as just one last opportunity for me to get a few more shares before the panic subsides and logic once again rules the market. I'll be looking to buy again (about a 1 or 2% stake) tomorrow, or later this week.

[jiesen]

Ok, made my last purchase today of LJPC- 1.77 for a 2% position. I don't think it'll go any lower than this, unless it's really a goner.

[peanuts]

Ok, made my last purchase today of LJPC- 1.77 for a 2% position. I don't think it'll go any lower than this, unless it's really a goner.

dude... this stock SUX! I bought it at $2 just because you've been pumping it for so long.... I'll let time tell whether I should slap ya on the back or in the face :D I'm riding it until it doubles or goes under :cramersmiley:

[Websman]

dude... this stock SUX! I bought it at $2 just because you've been pumping it for so long.... I'll let time tell whether I should slap ya on the back or in the face :D I'm riding it until it doubles or goes under :cramersmiley:

The selling looks to have subsided today. We go up from here...I hope. If this thing gets good news and shoots up to $50, I'm going to fly to California and personally shake Jiesen's hand. jejeje

[mrmarket]

Ok, made my last purchase today of LJPC- 1.77 for a 2% position. I don't think it'll go any lower than this, unless it's really a goner.

The fact that they are ramping up SGA is a good sign. They wouldn't waste their money unless something was brewing.

[skiracer]

dude... this stock SUX! I bought it at $2 just because you've been pumping it for so long.... I'll let time tell whether I should slap ya on the back or in the face :D I'm riding it until it doubles or goes under :cramersmiley:

dropped .05 in todays action. if it can't make a move up on a day like today seems to indicate not much accumulative interest.

[IIC]

They wouldn't waste their money unless something was brewing.

Happens all the time

[jiesen]

The selling looks to have subsided today. We go up from here...I hope. If this thing gets good news and shoots up to $50, I'm going to fly to California and personally shake Jiesen's hand. jejeje

Well, I would certainly prefer that scenario. It all really depends on the outcome of this trial, and I'm dying to hear the results. But as I've said before, they seem to have everything lined up right now for a successful trial-- more than double the patients, 9x the dose. The previous trial very nearly proved efficacy, and would have proved it had either of these two things not screwed it up: 1) placebo patients were dropping out of the trial midway and 2) the trial design was longer than it should have been. But with the increased power of the trial, additional steps taken to ensure patient compliance, and with the fact that an increased dose is shown definitively to more effectively reduce the level of harmful antibodies than the lower dose, it is much more likely that this trial will prove efficacy, in my opinion.

That said, there are still other challenges LJPC faces, especially with financing and logistics of the trial. When will the interim data (for the first 43 flares) be out? When will the enrollment be complete? (should be next quarter) Will the 3 major investors be willing to cough up the additional funds to complete the trial, given that it's a good 3-6 months behind schedule? And will the fact that they are holding $10M in illiquid bonds (news just out with the 10k yesterday) tank the share price so far that the next round of funding practically wipes the current investors out? Who knows, and that's what makes a horse race... But barring any major financial pinch or further delays in the trial, and if the drug is shown to work, I wouldn't say a $50 share price in a couple years is an unreasonable expectation.

And as far as promoting this stock goes... here's how I see it: One of two things can happen to kill the drug, Riquent. 1) It doesn't work, and the trial proves it. 2) It works, but the money is insufficient to bring this last trial to a successful conclusion. If #1 happens, then oh well, it's back to the drawing board, and the only thing lost is money. If #2 happens, then it's a crying shame for the lupus patients whose lives could have been improved/saved by a working drug which will go back on the development shelf, probably never to be seen again, and all for want of a mere pittance compared to what's been already invested into this research. So yeah, I have no problem promoting LJPC if doing so has any chance of preventing #2, even if it might end up costing you (and me) some money.

Yes, Doug, companies waste money all the time, and at the end of it LJPC may very well have nothing to show for all the money spent. But the work they are doing is anything but a waste.

[IIC]

Yes, Doug, companies waste money all the time, and at the end of it LJPC may very well have nothing to show for all the money spent. But the work they are doing is anything but a waste.


I realize that research ends in a lot of dead ends...If no one was willing to take the risk...Nothing effective would ever come to light...I was just commenting on Ernie's statement....Maybe something is brewing...Maybe it's not...I have no idea

[Websman]

Time for the big news on LJPC yet???

[jiesen]

Yep, more like past time... there should have been some sort of partnership announced by now, which would be very big indeed, or an interim update on the data. Both are likely imminent. Also, patient enrollment is targeted for completion this quarter. Any one of these announcements should give the stock a boost. I'm encouraged that hiring seems to be picking up, since the latest filing with the proxy statement shows that 95 people are on the payroll now. This means the data should be out, and trial completed sooner.

By my calculation, the first peek at the data (after 43 renal flares) should be available by now, and it may just be a matter of reviewing the data prior to release- or finalizing a finance deal before analyzing the results. At any rate, you're right, now is the time for big news.

[Websman]

We're going to be rich...I can feel it.

[IIC]

Yep, more like past time... there should have been some sort of partnership announced by now, which would be very big indeed, or an interim update on the data. Both are likely imminent. Also, patient enrollment is targeted for completion this quarter. Any one of these announcements should give the stock a boost. I'm encouraged that hiring seems to be picking up, since the latest filing with the proxy statement shows that 95 people are on the payroll now. This means the data should be out, and trial completed sooner.

By my calculation, the first peek at the data (after 43 renal flares) should be available by now, and it may just be a matter of reviewing the data prior to release- or finalizing a finance deal before analyzing the results. At any rate, you're right, now is the time for big news.

Can't remember...Don't you work there?

[jiesen]

Can't remember...Don't you work there?

Nope, I left LJP in 2006. I still hold a significant chunk of stock, but it has shrunk quite a bit since I left. I do expect the trial to succeed, but it's taking a while longer than I thought it would, and I'm feeling better about my decision to leave the longer this goes on. It's getting down to the wire now, though, and we shouldn't have to wait much longer before the stock hits either 0.20 or $20 (probably 1 year at the latest).

I really only started posting anything about this company after I left, since doing so beforehand would have likely gotten me in trouble.

[IIC]

I really only started posting anything about this company after I left, since doing so beforehand would have likely gotten me in trouble.

Guess I missed that post...But that is why I asked...I didn't want you to get in any trouble...I know for a fact that some companies monitor what their employees say on the Net

[jiesen]

from:
http://biz.yahoo.com/bw/080423/20080423005376.html?.v=1

La Jolla Pharmaceutical Announces Positive 12-Month Interim Antibody Data and Provides Update for Ongoing Riquent(R) Phase 3 'ASPEN' Lupus Trial

Wednesday April 23, 7:30 am ET
Significant Reduction in Antibodies Demonstrated
SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (NASDAQ:LJPC (http://finance.yahoo.com/q?s=ljpc&d=t) - News (http://finance.yahoo.com/q/h?s=ljpc)) today announced positive 12-month interim antibody data from its ongoing double-blind, placebo-controlled, randomized Phase 3 study of Riquent® (abetimus sodium), its drug candidate for systemic lupus erythematosus (“SLE” or “lupus”). Analyses of 12-month interim antibody data in the first 125 patients randomized in the study indicate that for all patients treated with 900 mg, 300 mg, or 100 mg of Riquent per week compared with placebo, there were significantly greater reductions in antibodies to double-stranded DNA (dsDNA, p < 0.0001).

Summary of Antibody Data

The data show a dose-response curve for antibody reduction and also show that the 300 mg and 900 mg doses appear to be near the top of the antibody-related dose-response curve, thus supporting the choice of doses for this study. Antibody levels in the placebo-treated group remained around baseline levels throughout the 12 months. The rate at which antibody levels were maximally reduced appeared to be more rapid in the 900 mg dose group than in the 300 mg or the 100 mg dose groups.
“Treatment with all doses of Riquent resulted in significant and sustained reductions in antibodies to dsDNA during the entire one-year treatment period,” said Michael Tansey, M.D., Executive Vice President and Chief Medical Officer of La Jolla Pharmaceutical Company. “Equally important, antibody levels observed in the placebo-treated patients remained around or above baseline and did not drift lower over time as occurred in the previous Phase 3 study. These data, which were generated in patients already receiving background immunosuppressive therapy, suggest that the appropriate doses were chosen for the current study and that overall, the 300 mg and 900 mg doses appear to be more effective than the 100 mg dose in the sustained reduction of antibodies to dsDNA.”
“The 12-month interim antibody data confirm that over the dose range being studied, treatment with Riquent resulted in significant reductions in antibodies to dsDNA,” said Richard Furie, M.D., Chief of Rheumatology, North Shore-Long Island Jewish Health System, and an investigator in the study. “These antibodies are strongly implicated as a primary cause of lupus renal disease, and prior studies have demonstrated that reductions in these antibodies strongly correlate with a reduction in the risk of renal flare.”
Each individual dose group was significantly different from placebo (p < 0.0001). An area under the curve (AUC) analysis, which reflects the effect of the drug on antibody levels over time, showed significantly greater antibody-lowering effects for the 300 mg and 900 mg dose groups compared with the placebo group (decreases of 26.9% for 100 mg, 35.5% for 300 mg, and 37.7% for 900 mg, compared with an increase of 7.5% for placebo).
The AUC analysis provides additional evidence that the higher doses of Riquent suppressed antibodies further than the 100 mg dose group. The proportion of patients achieving a 50% or greater AUC reduction was 0.0% in the placebo and 100 mg groups, 23% in the 300 mg group, and 30% in the 900 mg group.
The 12-month antibody analysis assessed the impact of treatment with Riquent or placebo on antibodies to dsDNA. Antibody levels were measured every two weeks for the first 16 weeks of the study and then monthly for the remaining 36 weeks. All demographics and baseline characteristics were comparable across dosing groups.
Phase 3 Trial Update
The Phase 3 ASPEN trial (“Abetimus Sodium in Patients with a History of Lupus Nephritis”) appears to be progressing well; more than 140 sites are active and more than 670 patients have been enrolled. Compliance with weekly visits has been high and the drop-out rate remains low. The Independent Data Monitoring Board (DMB) has completed three reviews of the safety data and has not indicated any safety issues.
The study is an event-driven trial designed to be completed when 128 renal flares have occurred. The current overall renal flare rate is lower than the original trial assumption. As a result, in an effort to shorten the time to achieve the required number of renal flares, the Company will continue enrollment beyond the initially targeted 740 patients and extend the treatment period beyond 12 months until the required number of renal flares is achieved. The Company now estimates that at least 800 patients will be enrolled in the study. Based on these changes, the Company expects the trial to complete in the second half of 2009.
The Phase 3 trial includes two interim efficacy analyses, each with target p values of p < 0.001 and a final p value of p < 0.05. The Company has added a futility analysis to each interim efficacy analysis. The interim efficacy analyses have been moved to occur later in the study when a greater number of renal flares will have been observed. As a result, the first interim efficacy analysis is expected to occur around the fourth quarter of 2008, and the second interim efficacy analysis is expected to occur about midway between the first analysis and the expected end of the study.
These modifications to the trial have been discussed with the FDA, and the trial continues to be conducted under the FDA’s Special Protocol Assessment.
“The interim results from the ASPEN trial are very encouraging,” said Deirdre Gillespie M.D., President and CEO of La Jolla Pharmaceutical Company. “At this point in the trial enrollment remains strong, the overall renal flare rate is lower than the original trial assumption, and the safety data appear to be consistent with data from our previous trials. These new data appear to show that the 300 mg and 900 mg doses of Riquent reduce antibodies to dsDNA more than the previously studied 100 mg dose.”
Dr. Gillespie added, “We continue to make great progress and believe that the additional refinements to the study will hasten its completion and possibly enable us to observe a definitive outcome earlier.”
Conference Call
The Company will host a conference call on April 23, 2008, at 1:30 pm Pacific Time/4:30 pm Eastern Time. If you would like to listen to the conference call, please access the link on La Jolla Pharmaceutical Company’s Web site at www.ljpc.com (http://www.ljpc.com/).
A replay of the conference call will be available the day of the call on the Company’s Web site www.ljpc.com (http://www.ljpc.com/) and will be archived for several weeks. In addition, a replay of the conference call can be accessed by dialing 888-286-8010 (US) or 617-801-6888 (international). The passcode for the replay is 78768082.
Phase 3 Study Design
The Phase 3 study is designed to assess the ability of Riquent treatment to prevent or delay the time to renal flare in lupus patients with a history of renal disease and with antibodies to dsDNA. Equal numbers of patients are being treated with 300 mg per week, 900 mg per week, or placebo. A small number of patients are receiving 100 mg per week. All patients continue to receive standard of care which can include background immunosuppressive therapies.
A lupus renal flare is a potentially life-threatening increase in inflammation of the kidney due to lupus. A renal flare often requires treatment with immunosuppressive agents which can have severe side effects. Riquent is also being studied to assess whether drug treatment decreases proteinuria, as was observed in previous clinical trials. Proteinuria, or protein in the urine, is a common problem for patients with renal disease and is an indicator of renal damage.
Riquent has received an Approvable Letter and Fast Track status from the Food and Drug Administration, and has Orphan Drug designation in the United States and Europe.
About Riquent
Riquent is being developed to specifically treat lupus renal disease by preventing or delaying renal flares, a leading cause of sickness and death in lupus patients. It is also being studied to assess whether Riquent treatment improves proteinuria, as was observed in previous clinical trials. Proteinuria is an indicator of abnormal renal function. Riquent has been well tolerated in all 14 clinical trials, with no overall difference in the adverse event profiles for Riquent-treated patients compared with placebo-treated patients. Riquent specifically reduces circulating levels of anti-dsDNA antibodies and is also designed to specifically suppress the B cells that make these antibodies. Decreases in these antibodies are believed to be associated with a decreased risk of renal flare. Although clinical benefit has not yet been proven, Riquent treatment has significantly reduced these antibody levels in all clinical trials in which they were measured.
About Lupus
Lupus (systemic lupus erythematosus) is a chronic, potentially life-threatening autoimmune disease. About 90% of lupus patients are female, and many are diagnosed with the disease during their childbearing years. Approximately 50% of lupus patients have renal disease which can lead to irreversible renal damage, renal failure and the need for dialysis, and is a leading cause of death in lupus patients. Latinos, African Americans, and Asians face an increased risk of serious renal disease associated with lupus. The current standard of care for lupus renal disease often involves treatment with high doses of corticosteroids and immunosuppressive drugs that can cause severe side effects including diabetes, hypertension, and sterility and may leave patients vulnerable to opportunistic infections. To date, no lupus-specific drug has been approved in the U.S.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is dedicated to improving and preserving human life by developing innovative pharmaceutical products. The Company’s leading product in development is Riquent®, which is designed to treat lupus renal disease by preventing or delaying renal flares. Lupus renal disease is a leading cause of sickness and death in patients with lupus. The Company has also developed potential small molecule drug candidates to treat various other autoimmune and inflammatory conditions. The Company's common stock is traded on The NASDAQ Global Market under the symbol LJPC. More information about the Company is available on its Web site: http://www.ljpc.com (http://www.ljpc.com/).

[riverbabe]

Guess I missed that post...But that is why I asked...I didn't want you to get in any trouble...I know for a fact that some companies monitor what their employees say on the Net

As long as he no longer has access to insider info, he should be free and clear. River

[riverbabe]

La Jolla Pharm: Lazard continues to anticipate results from ongoing Phase III trial of Riquent will fail to meet primary endpoint of time to renal flare (1.81 )

Lazard says this morning LJPC reported additional interim antibody data from its ongoing Phase III trial of Riquent for lupus nephritis. The 12-month interim antibody data from the first 125 patients randomized indicate that Riquent led to dsDNA antibody decreases (measured by AUC) of 26.9% for 100 mg, 35.5% for 300 mg, and 37.7% for 900 mg, versus an increase of 7.5% for the placebo arm. Based on firm's analysis of the literature, there is a lack of clinical data linking reductions in dsDNA antibodies to clinical benefit in lupus nephritis. Thus, firm continues to anticipate that results from the ongoing Phase III trial of Riquent will fail to meet the primary endpoint of time to renal flare, mirroring the results of earlier Phase II/III trials.

From: www.briefing.com

[jiesen]

La Jolla Pharm: Lazard continues to anticipate results from ongoing Phase III trial of Riquent will fail to meet primary endpoint of time to renal flare (1.81 )

Lazard says this morning LJPC reported additional interim antibody data from its ongoing Phase III trial of Riquent for lupus nephritis. The 12-month interim antibody data from the first 125 patients randomized indicate that Riquent led to dsDNA antibody decreases (measured by AUC) of 26.9% for 100 mg, 35.5% for 300 mg, and 37.7% for 900 mg, versus an increase of 7.5% for the placebo arm. Based on firm's analysis of the literature, there is a lack of clinical data linking reductions in dsDNA antibodies to clinical benefit in lupus nephritis. Thus, firm continues to anticipate that results from the ongoing Phase III trial of Riquent will fail to meet the primary endpoint of time to renal flare, mirroring the results of earlier Phase II/III trials.

From: www.briefing.com (http://www.briefing.com)

There actually is clinical data linking dsDNA antibody levels to rate of renal flare, though. Once this trial is complete, there will also be evidence that removing the antibodies reduces the flare rate. Of course there's a lack of *this* data because this is the first drug in Phase III clinical trials that reduces the dsDNA antibodies.

[riverbabe]

There actually is clinical data linking dsDNA antibody levels to rate of renal flare, though. Once this trial is complete, there will also be evidence that removing the antibodies reduces the flare rate. Of course there's a lack of *this* data because this is the first drug in Phase III clinical trials that reduces the dsDNA antibodies.
Super Jiesen! I wish you all kinds of good luck. Riverbabe

[jiesen]

Thanks, Riverbabe!

[Websman]

I sold my LJPC on Friday for two cents below my buy price. I know it's all for a very good cause, but they're killing the shareholders.

[jiesen]

yep, it's killing me... on the upside, the dilution went mainly (81% or so) to the major owners, one of whom owns about 37% (Essex Woodlands) of the company now. but it's definitely a good thing you avoided the dilution by exiting on Friday. Wish I had been as prescient.

[Websman]

yep, it's killing me... on the upside, the dilution went mainly (81% or so) to the major owners, one of whom owns about 37% (Essex Woodlands) of the company now. but it's definitely a good thing you avoided the dilution by exiting on Friday. Wish I had been as prescient.

I'll consider getting back in when i see evidence of a bottom. This thing could still shoot through the roof.

[jiesen]

looks like someone has finally stepped in and started to nibble here...

http://finance.yahoo.com/echarts?s=LJPC#chart1:symbol=ljpc;range=5d;indicat or=volume;charttype=line;crosshair=on;ohlcvalues=0 ;logscale=on;source=undefined

[jiesen]

Moved about a 1% position out of bonds and into an S&P index fund today. Times like these, when things look the worst are the times to be buying, imo.

I'm saving another 1% in case the S&P continues the dive to 1200.

[mrmarket]

Moved about a 1% position out of bonds and into an S&P index fund today. Times like these, when things look the worst are the times to be buying, imo.

I'm saving another 1% in case the S&P continues the dive to 1200.

Jiesen...I agree. I have 60% of my net worth in oil and cash....waiting to pounce.

[jiesen]

I don't know much about this stock, but if they've cured Hep C, there's bound to be a good profit in it...

check out Pharmasset's latest clinical results:

http://www.bloomberg.com/news/2011-11-07/pharmasset-rises-after-hepatitis-c-drug-shows-100-cure-rate-in-trial.html?cmpid=yhoo

Pharmasset Rises After Hepatitis Drug Shows 100% Cure Rate

By Elizabeth Lopatto - Nov 7, 2011 1:12 PM PT

Pharmasset Inc. (VRUS) climbed 4.9 percent after the company said its experimental drug for treating hepatitis C cured all patients in a study.
All 40 patients who received Pharmasset’s experimental PSI-7977 drug were responsive after 12 weeks, the Princeton, New Jersey-based company said yesterday the annual meeting of the American Association for the Study of Liver Diseases in San Francisco. About half the patients had been followed up to 24 weeks, and they were all cured. There were no significant adverse events.
“Although patient numbers are small, we believe the results are extremely impressive,” wrote Brian Abrahams of Wells Fargo Securities in a note to investors today.
Pharmasset gained $3.34 to $72.23 at the close in New York.
The drug was tested in combination with ribavirin, a medication currently used in treating the disease, in patients with hepatitis C genotypes 2 and 3. Genotype 1 is most common and hardest to treat.
There were four groups in the study: Those who were treated with no interferon and those who received four weeks, eight weeks and 12 weeks of it, according to the data. The study was initiated to see the shortest duration of interferon, which is injected, required for a response.
On Nov. 1, Pharmasset announced it began a Phase 3 clinical trial of the drug in combination with ribavirin, without interferon. That would be an all-oral regimen to treat hepatitis C.

[jiesen]

Dang it, should have bought this one...

http://finance.yahoo.com/news/gilead-sciences-buy-pharmasset-11-122429948.html

Gilead Sciences to buy Pharmasset for $11 billion
Gilead Sciences agrees to pay $11 billion for hepatitis C drug developer Pharmasset

By Tom Murphy, AP Business Writer

INDIANAPOLIS (AP) -- HIV drugmaker Gilead Sciences Inc. will spend about $11 billion to buy Pharmasset Inc. in what one analyst termed an "amazing risk," a high stakes gamble that could yield billions of dollars in drug sales if a possible groundbreaking hepatitis C treatment pans out.
Gilead said Monday it will pay $137 per share in cash for Pharmasset, a Princeton, N.J., company with no products on the market and a stock that has traded as low as $20.49 in the past year. The announcement sent Gilead's stock tumbling and Pharmasset's soaring.
Analysts see promise in Pharmasset's lead candidate, a pill labeled PSI-7977 that has just started late-stage testing. They say it could become a preferred option for care if it works without the injectable drug interferon, which can leave patients with flu-like symptoms that last for months.
Before the drug reaches the market, though, it must pass through the largest and most expensive stage of clinical testing and receive Food and Drug Administration approval. Analyst Erik Gordon of University of Michigan's Ross School of Business said the price Gilead agreed to pay multiplies the risk in that process.
"At that price, everything had better work perfectly," he said.
Hepatitis C treatments represent a ripe opportunity for drugmakers. The virus can lead to life-threatening liver damage and is the main cause of liver transplants in the United States.
It is spread through the blood, and that can happen through sharing intravenous drug needles or having sex with an infected person. The disease, which can take years to manifest, also could be picked up from blood transfusions before 1992, when the blood supply began being tested for the virus.
Analysts expect the disease to become a bigger health problem due to the large, aging population of U.S. baby boomers, including some people who used intravenous drugs when they were younger.
Pharmasset has a total of three potential hepatitis C treatments in clinical testing, including PSI-7977. That one has already demonstrated its effectiveness in hepatitis C patients with genotypes 2 and 3, but analysts want to see how it works in genotype 1, the most prevalent subset in the Western world and the hardest to treat.
"It could be the dominant player in a new, non-injectable paradigm for the treatment of hepatitis C," Stifel Nicolaus analyst Maged Shenouda said. "That's the bet, but it's a big bet at $11 billion."
Earlier this year, the FDA approved two pills that offered the first new breakthrough treatments for the liver disease in 20 years. The Vertex Pharmaceuticals Inc. hepatitis C pill Incivek rang up about $420 million in this year's third quarter. Another pill, Merck & Co.'s Victrelis had $31 million in sales in the quarter.
Both of those drugs need interferon to be effective, noted Carol Werther, an analyst for Summer Street Research.
If PSI-7977 works in genotype 1 patients without the injectable, then the deal works out "beautifully" for Gilead, which could wind up with a drug that brings in several billion dollars in annual sales, the analyst said.
"That's the holy grail, that's what everybody wants, get rid of interferon," she said, noting that the drug would still have to be used in combination with other therapies, just not interferon.
Pharmasset plans to start two other late-stage trials in 2012 and hopes to file for marketing approval of treatment in the United States and European Union in the second half of 2013.
Gilead, based in Foster City, Calif., also is developing some of its own hepatitis C treatments, and Chairman and CEO John C. Martin said the deal will allow it to explore new combinations with its drugs under development.
Unlike Pharmasset, Gilead already has several drugs on the market. Its top-sellers include the HIV drugs Atripla and Truvada. Last year, Gilead earned $2.9 billion, or $3.32 per share, on $7.39 billion in revenue.
Gilead said it will pay for the acquisition with cash on hand, bank debt and senior unsecured notes. It expects the deal to close in next year's first quarter, and it forecasts that the deal could start helping Gilead's earnings by 2015.
Shares of Pharmasset soared 85 percent, or $61.47, to close Monday at $134.14, while Gilead's stock dropped more than 9 percent, or $3.62, to close at $36.26.

[IIC]

looks like someone has finally stepped in and started to nibble here...

http://finance.yahoo.com/echarts?s=LJPC#chart1:symbol=ljpc;range=5d;indicat or=volume;charttype=line;crosshair=on;ohlcvalues=0 ;logscale=on;source=undefined

I still have the stocks that we picked for the 2006 contest in a folder at Stockcharts...Those that still exist anyway:

ABB,ACI,CELL,CERS,SCLR,DVN,ECOL,ELN,ENER,FORD,
GG,GHM,GLD,LJPC,PFE,TEVA,TLF,VLO,WFM

Doug

[jiesen]

I still have the stocks that we picked for the 2006 contest in a folder at Stockcharts...Those that still exist anyway:

ABB,ACI,CELL,CERS,SCLR,DVN,ECOL,ELN,ENER,FORD,
GG,GHM,GLD,LJPC,PFE,TEVA,TLF,VLO,WFM

Doug

sadly, Doug, I still have some of that LJPC (.PK now) from way back then :(

[billyjoe]

Jiesen,
I've got your HHS pick. Now just one more before 9:30 DST Monday.

--------------billy