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Oscient Pharmaceuticals C (OSCI) Message Board

  • ObKozRanch ObKozRanch Jan 5, 2004 12:50 PM Flag

    What Gene soft brings to the table

    In April 2003, Genesoft received approval from the FDA for the use of FACTIVE to treat community-acquired pneumonia of mild to moderate severity and acute bacterial exacerbations of chronic bronchitis. One of the objectives of our combined company is to expand the indications for which FACTIVE is approved for marketing by the FDA, including for the indication of acute bacterial sinusitis. The research concludes this to be a 100Million earning potential just for what it is approved for.
    Genesoft�s exclusive rights to market FACTIVE in Europe are limited to France, Germany, the United Kingdom, Luxembourg, Ireland, Italy, Spain, Portugal, Belgium, the Netherlands, Austria, Greece, Sweden, Denmark, Finland, Norway, Iceland, Switzerland, Andorra, Monaco, San Marino and Vatican City.Besides the USA.
    Genesoft currently owns or licenses 34 issued U.S. patents, approximately 42 pending U.S. patent applications, approximately 40 issued foreign patents and approximately 104 pending foreign patent applications.
    Harris Nesbitt discounted the estimated unlevered free cash flows provided by the model using various discount rates. Harris Nesbitt calculated terminal values based on a range of multiples of projected 2008 net income, 2010 net income and 2007 revenue, and then discounted these terminal values at discount rates ranging from 12.5% to 27.5%. The implied range of values calculated by Harris Nesbitt for Genesoft derived from the discounted cash flow analysis (assuming a 20% discount rate) is presented below:
    20% Discount Rate ($ in millions)
    2008 Net Income $ 60-120
    2010 Net Income $ 235-365
    2007 Revenue $ 400-570
    Product Pipeline

    Genesoft�s current pharmaceutical programs reflect its commitment to the research and development of novel anti-infective therapeutics. The pipeline spans discovery research and preclinical development to early clinical trials and pre-launch activities.
    Peptide Deformylase Inhibitors . In August 2002, Genesoft entered into a research and license agreement with British Biotech Pharmaceuticals Ltd., now Vernalis, to co-develop inhibitors of peptide deformylase, or PDF, a novel iron-binding enzyme essential for bacterial growth but not involved in human cytoplasmic protein synthesis. Genesoft believes that PDF inhibitors represent an excellent opportunity for the development of novel mode of action antibiotics. In September 2003, Genesoft assumed full responsibility for the development and commercialization of these compounds.

    Preclinical studies of GSQ-83698, Genesoft�s most advanced PDF inhibitor, indicated that the compound may have potential for the treatment of hospitalized patients suffering from CAP. An intravenous formulation of GSQ-83698 entered Phase I clinical trials in October 2002, and the drug was well tolerated and demonstrated good pharmacokinetic properties. GSQ-83698 has exhibited good in vitro activity against many of the important



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    respiratory tract pathogens, but has limited activity against H. influenzae . Rather than devote additional resources to the clinical development of GSQ-83698, Genesoft has chosen to focus on the optimization of second-generation PDF inhibitors.
    $$$$$This second-generation research program has focused on developing orally available PDF compounds with the potential to target the broader community-based antibiotic market. Several compounds have been identified with improved properties, including good activity against H. influenzae. With continued success, Genesoft anticipates selecting a development candidate and initiating IND-enabling studies.$$$$$