cannabisnews.com: Analyst Sees $1 Billion Market for Pharmos 





Analyst Sees $1 Billion Market for Pharmos 
Posted by CN Staff on October 13, 2003 at 13:18:08 PT
By Dow Jones/AP
Source: Associated Press 
New York -- Shares of Pharmos Corp. leaped Monday on a bullish note by a Wall Street analyst, who said he sees substantial market potential for the company's brain-injury drug, Dexanabinol. The stock of the Iselin, N.J.-based company was at $3.16 in early afternoon trading, up 68 cents, or 27 percent, on heavy volume on the Nasdaq Stock Market. 
Monday's strongest level of $3.30, at that point, was a 52-week high, having surpassed the prior high of $2.95 set Sept. 30. Dexanabinol is designed to limit brain damage when given in the first few hours after trauma. It would be the sole treatment in a potentially $1 billion market, said C.E. Unterberg analyst David Bouchey. He initiated coverage on the stock Monday with a "buy" rating. In a research note, Bouchey said there were 300,000 brain-trauma hospital admissions each year in the United States, with a similar number outside the country. Dexanabinol is undergoing its pivotal Phase III trials, and is expected to complete the tests by the fourth quarter of 2004. Following positive results, Bouchey said, he expects the drug to go to market by mid-2006 and reach worldwide sales of $500 million to $600 million by 2009. Positive data from Dexanabinol's Phase II trials suggests Phase III tests should go smoothly, the analyst said. The Food and Drug Administration late last month granted fast-track status to Dexanabinol. The FDA typically awards the designation to drugs that treat serious and life-threatening conditions for which no other approved treatments exist. Dexanabinol is a synthetic cannabinoid, related to the active substances in marijuana, but lacks the mood-altering effects of the illegal drug. Complete Title: Analyst Sees $1 Billion Market for Pharmos Brain-Trauma DrugSource: Associated Press Published: October 13, 2003Copyright: 2003 Associated Press Related Articles & Web Site:Pharmos Corp.http://www.pharmoscorp.com/Marijuana Ingredient Helps Head Injurieshttp://cannabisnews.com/news/thread11046.shtmlCompound May Reduce Brain Trauma Damagehttp://cannabisnews.com/news/thread11033.shtml 
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Comment #7 posted by goneposthole on October 13, 2003 at 19:02:37 PT
PARS, pump and dump speculated stock
52 Week High:
3.30
52 Week Low:
0.50
30 Day Average Volume:
1,080,000
Shares Outstanding:
71,074,000
P/E Ratio:
0.00
EPS:
-0.29
Earnings Estimate:
0.00
Yield:
0.00
Beta:
0.95
Currency Units:
USD
Industry:
Pharmaceuticalsstrong sell, don't buy, a short sellers dream stock
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Comment #6 posted by CorvallisEric on October 13, 2003 at 16:54:20 PT
addendum to comment #5
From comment #4:DEXANABINOL is currently undergoing clinical testing as a treatment for traumatic brain injury and as a preventive agent against post-cardiac surgery cognitive impairment.Maybe the $500-600 million sales projection includes the cardiac use.
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Comment #5 posted by CorvallisEric on October 13, 2003 at 16:47:26 PT
notice the price
In a research note, Bouchey said there were 300,000 brain-trauma hospital admissions each year in the United States, with a similar number outside the country.Dexanabinol is undergoing its pivotal Phase III trials, and is expected to complete the tests by the fourth quarter of 2004. Following positive results, Bouchey said, he expects the drug to go to market by mid-2006 and reach worldwide sales of $500 million to $600 million by 2009.300,000 admissions in US + 300,000 elsewhere = 600,000. Worldwide sales of $500 million to $600 million. Assuming one dose per admission, and that everyone uses it (which is unlikely no matter how miraculous the outcome), that's $833 to $1000 per dose. Could the writer possibly mean cumulative rather than annual sales? Usually such figures are annual, I think.Only doing the numbers, I'll leave the comments to others.
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Comment #4 posted by Virgil on October 13, 2003 at 16:39:18 PT
Sam Adams
The link for a search of "Dexanabinol" at IACM is dotted at the bottom. This link says it is a novel, as in new, cannabinoid- http://www.acmed.org/english/bulletin/ww_en_db_cannabis_artikel.php?id=149&search_pattern=Dexanabinol#10 My mind says they had a natural cannabinoid and what they have is slightly different it so it still worked, yet was patentable. Now they could take a natural cannabinoid and alter it and it would be synthetic.Economy: DEXANABINOL
The Israel based company Pharmos Corporation announced on 10 June that it had received a Notice of Allowance from the United States Patent and Trademark Office for a patent application relating to the synthetic and non-psychotropic cannabinoid DEXANABINOL. The allowed claims cover novel synthetic dextrocannabinoids developed by Pharmos, including several derivatives of DEXANABINOL, and their use in the treatment of inflammatory disorders, neurodegenerative disorders, brain ischemia, autoimmune diseases and pain. DEXANABINOL is currently undergoing clinical testing as a treatment for traumatic brain injury and as a preventive agent against post-cardiac surgery cognitive impairment. (Source: Press release by Pharmos of 10 June 2003) THC, delta 9-tetrahydrocannabinol can properly be called dronabinol. When this breaks down in the liver a delta 11-THC is produced that is more psychoactive than delta-9. And I have read there is a delta 1- THC.In addition to those three there is CBC (cannabichromene), CBD (cannabidiol), CBD (cannabidiol), CBG (cannabigerol), and CBN (cannabinol)- cannabinol being the web name of Nol Van Shaik that said the reference for the warning label on future cannabis pills should read, "Don't smoke these pills."Jack Herer says there are 60 natural cannabinoids that have medical properties at http://www.jackherer.com/
IACM results for Dexanabinol
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Comment #3 posted by Jose Melendez on October 13, 2003 at 14:59:18 PT
so it is the high that makes it illegal?
All this time I thought it was the smoking part that was dangerous, sill me!As if, while recovering from trauma, the last thing one would want is laughter and happiness, and NICE dreams.
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Comment #2 posted by Sam Adams on October 13, 2003 at 14:54:10 PT
Interesting
Does anyone know which cannabinoid they've cloned? THC, CBD, CBN etc?
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Comment #1 posted by darwin on October 13, 2003 at 14:37:54 PT
Pharma, the real fighter of drugs
"Dexanabinol is a synthetic cannabinoid, related to the active substances in marijuana, but lacks the mood-altering effects of the illegal drug."Schedule 1 my arse...
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