December 1st 2003.  A quick comment on the overall biotech market: the fundamentals remain strong and momentum is continuing for new and important therapies.
For example, Telik/NASDAQ:  TELK recently announced several positive interim results for its cancer therapies, Telintra or Telcyta. A Phase I/IIa clinical trial of Telintra in patients with myelodysplastic syndrome, a bone marrow disorder that may progress to leukemia, several patients showed improvement by increasing the levels of both white and red blood cells counts. For Telcyta, Phase I/IIa clinical trial in combination with Doxil in the second to fifth-line treatment setting, interim data showed patients with platinum refractory or resistant ovarian cancer had a 33% objective response rate and a 100% disease stabilization rate. These results suggest in a combination regimen, Telycyta and Doxil can be administered with good tolerability and evidence of dose-dependent efficacy. And, a Phase I/IIa clinical trial of Telcyta and docetaxel in patients with platinum resistant non-small cell lung cancer (NSCLC) resulted in a 29% objective response rate and an overall rate of 69% disease stabilization. This data indicate that the combination of Telcyta and docetaxel may provide significant clinical benefit, as well as support further clinical trial using the Telcyta/docetaxel combination in the first and second line NSCLC setting. Lastly, in a Phase I/IIa clinical trial, the combination of Telcyta and carboplatin used in the third to sixth line treatment setting, demonstrated a 63% response rate and an 88% overall disease stabilization rate in patients with platinum refractory or resistant ovarian cancer. Telik presented these interim results at the AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics Conference in Boston. Both Telintra and Telcyta are generating clinical data that warrants continued development as a cancer treatment. Buy below $20 with a target price of $26.

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