Stock of Synergen Inc. rose $2.88 to $59.13 on Monday afterAlex. Brown & Sons Inc. analyst David Webber repeated his"strong buy" recommendation and raised his earnings estimatesfor the Boulder, Colo., company.
Webber predicted that Synergen shares (NASDAQ:SYGN) wouldrise 50 percent to 100 percent next year. He based his forecaston strong data from Phase II trials of Antril interleukin-1receptor antagonist reported last month.
The results imply that "Synergen has a good shot at gettingAntril on the market in the fourth quarter of '93 or perhapsearlier," Webber told BioWorld. When it does get on themarket, he said, that Antril will rapidly eclipse E5 andCentoxin, monoclonal antibodies to treat septic shock beingdeveloped by Xoma Corp. (NASDAQ:XOMA) and Centocor Inc.(NASDAQ:CNTO), respectively.
Webber projected a market share for Antril at least equal tothat of the other sepsis drugs expected on the market in 1994,the anti-tumor necrosis factor MAbs being developed by ChironCorp. (NASDAQ:CHIR) and Centocor.
Webber estimated earnings from Antril starting at $43 millionin 1993 and rising to $797 million in 1996, with total revenuesof $57 million in 1993, rising to $962 million in 1996.
He increased loss-per-share estimates for 1992 to $1.22 from57 cents and for 1993 to $2.66 from 23 cents and lowered hisEPS estimate for 1994 to $1.20 from $1.30. But he raised hisEPS estimates for 1995 to $4.77 from $2.98 and for 1996 to$9.98 from $5.40.
Centocor, whose Centoxin is awaiting final marketing approval,fell $1 to $49 on Monday. Xoma was up $1.25 to $19.50, whileChiron gained 75 cents to $63.50.
-- Karen Bernstein BioWorld Staff
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