Axys Pharmaceuticals Discusses Third Quarter 2000 Research Outlook and Year-End 2000 Earnings.Business Editors and Health/Medical Writers SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BW HealthWire)--Nov. 3, 2000 To ensure full dissemination of comments made by the Company during its third quarter 2000 conference call, Axys Pharmaceuticals, Inc. (Nasdaq:AXPH) provided updated information on its research and development programs and commented upon current Street expectations for year-end earnings. ...Phase II Program in Ulcerative Colitis ulcerative colitis Inflammation of the colon, especially of its mucous membranes. The inflamed membranes develop patches of tiny ulcers, and the diarrhea contains blood and mucus. Chairman and Chief Executive Officer John Walker indicated that its Phase II clinical program to evaluate tryptase inhibitor APC-2059 was fully accrued, and that an analysis of the data from the trial would be evaluated by mid-December. Walker added that the data would be presented to Axys' external Gastroenterology gastroenterology Medical specialty dealing with digestion and the digestive system. In the 17th century Jan Baptista van Helmont conducted the first scientific studies in the field; William Beaumont published his own observations in 1833. Advisory Board before it would be made public, commenting that if the results corroborate To support or enhance the believability of a fact or assertion by the presentation of additional information that confirms the truthfulness of the item. The testimony of a witness is corroborated if subsequent evidence, such as a coroner's report or the testimony of other the interim data, a registration study could be anticipated in 2001. ...Research Update: Merck and Aventis Programs In response to a specific question on partnered programs, Michael Venuti, Ph.D., Senior Vice President, Research and Preclinical Development, and Chief Technical Officer, indicated that both the Merck Cathepsin K Cathepsin K, which is defined by its high specificity for kinins, is involved in bone resorption. Cathepsin K's ability to catabolize elastin, collagen, and gelatin allow it to break down bone and cartilage. and the Aventis Cathepsin S cathepsin /ca·thep·sin/ (kah-thep´sin) one of a number of enzymes each of which catalyzes the hydrolytic cleavage of specific peptide bonds. programs were moving toward the nomination of IND candidates in the next several months. He said that the Company's orally available protease inhibitors Protease Inhibitors Definition A protease inhibitor is a type of drug that cripples the enzyme protease. An enzyme is a substance that triggers chemical reactions in the body. for osteoporosis and asthma, respectively, were on track in safety, pharmacology, dose-ranging and toxicology studies to meet that goal. ...Year-end Earnings Estimates In addition, Walker is providing guidance to the Street and projecting a loss of $0.12 - $0.18 on a per share basis, for the full year 2000, as compared to the published Street estimates of a loss of $0.77 - $0.93 primarily due to expense reductions related to Axys' focus on cancer as well as the gain on the sale of its affiliated business, Axys Advanced Technologies to Discovery Partners International, Inc.(Nasdaq:DPII DPII Discovery Partners International, Inc. ). ...Webcast and Teleconference Replay Axys said that its teleconference will be replayed for 72 hours following the call by dialing: 1-800-633-8284 within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 1-858-812-6440 international Access Code: 16781150 Additionally, the teleconference will be archived on V-call, which is accessible from the Axys website at www.axyspharm.com or directly at www.vcall.com for seven days. Axys Pharmaceuticals, Inc. is an integrated small molecule drug discovery and development company. Axys has a broad pipeline of products for chronic therapeutic applications that are partnered with world-class pharmaceutical companies and a proprietary product portfolio in oncology. Axys is also building shareholder value through affiliated businesses that leverage the Axys technologies in order to provide capital for Axys' drug discovery and development programs. In addition to the minority interest in DPII resulting from the AAT-DPII merger, Axys' technology leveraging businesses are: PPGx, a majority-owned pharmacogenomics Pharmacogenomics is the branch of pharmacology which deals with the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide polymorphisms with a drug's efficacy or toxicity. company, and Akkadix Corporation, an agricultural biotechnology company. Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties which could cause Axys' actual results to differ materially from those discussed here, including the risks inherent in early stage development and the reliance on the efforts of collaborative partners, the risk that preclinical studies preclinical studies, n.pl a term used to describe research done before a clinical study. May be laboratory or epidemiologic research. will not be concluded as quickly as planned or will not be successfully concluded, the risk that Axys collaborations will not be successful, the risk that clinical trials will not proceed as anticipated or may not be successful, the risk that Axys will not be successful in entering into new collaborations, market risk associated with Axys' substantial ownership interest in DPII, competition and marketing risk, and general economic conditions that may affect Axys' actual results and developments. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the sections entitled "What Factors Could Cause Our Results to Differ Significantly from Those You Might Expect?" and "What Other Matters Should Stockholders Consider with Respect to Axys?" in the Axys' SEC Reports, including Axys' report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 1999. For more information about Axys Pharmaceuticals, Inc., please visit the company's website at http://www.axyspharm.com. |
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