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From: quote 0079/27/2004 4:50:33 PM
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Press Release Source: AtheroGenics, Inc.


AtheroGenics Announces Positive Interim Results From CART-2 Study
Monday September 27, 4:30 pm ET
Data Show Highly Statistically Significant Plaque Regression with AGI-1067 in One-Year Study
Conference Call and Webcast at 5:30 p.m. EDT on September 27, 2004


ATLANTA, Sept. 27 /PRNewswire-FirstCall/ -- AtheroGenics, Inc. (Nasdaq: AGIX - News), a pharmaceutical company focused on the treatment of chronic inflammatory diseases, today announced positive interim data from the CART-2 Phase IIb clinical trial with AGI-1067, its novel anti-inflammatory agent that targets atherosclerosis, as compared to current Standard of Care therapy. Data from the trial were independently analyzed by two of the world's leading cardiac intravascular ultrasound (IVUS) labs; the Montreal Heart Institute (MHI) under the direction of Jean-Claude Tardif, M.D., and the Cleveland Clinic Foundation (CCF) under the direction of Steven Nissen, M.D.
(Logo: newscom.com  )
The primary endpoint of the trial was a change in coronary atherosclerosis, measured as total plaque volume after a 12-month treatment period compared to baseline values. Results of the interim analysis from the two labs indicate that AGI-1067 reduced plaque volume by an average of 6.4 cubic millimeters (3.8%), which was statistically significant (p<0.0003). An important secondary endpoint from the trial, change in plaque volume in the most severely diseased subsegment, also showed statistically significant (p<0.0001) regression from baseline by an average of 2.7 cubic millimeters (7.1%). Overall adverse event rates were similar in the AGI-1067 and Standard of Care groups, and AGI-1067 was generally well-tolerated.

"The interim analysis is providing a clear picture of AGI-1067's ability to regress plaque in coronary arteries when dosed over a 12-month period," said Rob Scott, M.D., Senior Vice President of Clinical Development and Regulatory Affairs and Chief Medical Officer at AtheroGenics. "The data we have reviewed to date suggest that there is a measurable and rapid beneficial effect that is consistent with reversing coronary heart disease. If confirmed in the final study results, we believe this regression of plaque volume may provide clinical benefit to patients with coronary artery disease."

The data presented in the CART-2 interim analysis resulted from the following process: CART-2 was originally designed as a restenosis trial with change in atherosclerosis plaque volume as a secondary endpoint. As such, all of the randomized patient IVUS scans evaluated by MHI would not ordinarily have been included in an atherosclerosis trial. AtheroGenics and MHI subsequently commissioned CCF to independently read the entire set of IVUS scans in a blinded manner to identify the patients who were most suitable for quantitative analysis in an atherosclerosis study. The 133 patients included in this interim analysis were identified as a result of the CCF review of the IVUS scans, and both MHI and CCF have concurred that these patients are the appropriate subjects for the analysis.

The data analysis by both labs demonstrated that the reduction in plaque volume in the combined AGI-1067 treatment groups was greater than the Standard of Care group, although given the small number of patients in the interim analysis, the difference between groups was not statistically significant. The following is a table of the plaque changes for the AGI-1067 and Standard of Care groups, as reported by the two IVUS labs:

Change in Plaque Volume
Montreal Heart Institute Cleveland Clinic
Primary Endpoint cubic millimeters % cubic millimeters %

Total AGI-1067
groups (n=93) -5.4 (p<0.003) -3.3% -7.4 (p<0.0006) -4.2%

Standard of Care
group (n=40) -2.6 (p= NS*) -1.6% -4.4 (p= NS*) -2.4%

Most Severely Diseased Subsegment

Total AGI-1067
groups (n=93) -2.4 (p<0.0001) -6.3% -3.0 (p<0.0001) -8.0%

Standard of Care
group (n=40) -1.4 (p= NS*) -3.6% -1.3 (p= NS*) -3.5%

*NS = Not Statistically Significant


"As the lead investigator in CART-2, I consider these interim results promising since they show significant plaque regression in patients treated with AGI-1067," said Dr. Tardif. "These data also support the similar results from the CART-1 study. I look forward to the final analysis of CART-2 to confirm these results."

"The interim results of the CART-2 study are very promising," said Dr. Nissen. "I view this trial as a 'proof-of-concept' study, in which AGI-1067 appears capable of inducing clinically meaningful reduction in atherosclerosis burden. It must be recognized that these are interim results of a subset of patients and will need to be confirmed when the study is completed. If confirmed by the final analysis, the prospect for successful development of AGI-1067 and a reduction in clinical events in the ARISE study is improved by these results."

About the CART-2 Study

Patients in the CART-2 study were randomized to placebo plus Standard of Care or to one of three treatment groups. Starting 14 days prior to a scheduled angioplasty procedure, the first treatment group received AGI-1067 for the full 14 days, the second group received placebo for the first 11 days and AGI-1067 for the last three days, and the third group received placebo for the full 14 days. Following the angioplasty, all three treatment groups continued receiving AGI-1067 for 12 consecutive months. The dose of AGI-1067 used for all patients in the treatment groups was 280 mg, dosed orally once per day, plus Standard of Care. Plaque volume was measured at the time of angioplasty and again at the end of one year using intravascular ultrasound (IVUS). With IVUS, a catheter containing a tiny ultrasound probe is inserted into a non-instrumented coronary artery to directly image and measure the size of the atherosclerotic plaques.

"We continue to be encouraged by the striking interim data from our studies with our anti-inflammatory compound, AGI-1067," said Russell M. Medford, M.D., Ph.D., President and Chief Executive Officer at AtheroGenics. "This interim analysis further supports the new paradigm in cardiology, that inflammation is a driving factor in atherosclerosis. We expect to report final top-line data from the CART-2 study later this year."

About AGI-1067

AGI-1067 is a novel oral compound that was designed to selectively block the inflammatory process in atherosclerosis. AGI-1067 blocks signaling pathways within the endothelial cells that make up the inner lining of blood vessels, which in turn inhibits the production of VCAM-1 and other molecules involved in the inflammatory process. VCAM-1 recruits inflammatory cells to the surface of the endothelial cell, initiating the chronic inflammatory reaction that ultimately results in atherosclerosis.

Conference Call and Webcast Information

AtheroGenics will be hosting a conference call and webcast today at 5:30 p.m. EDT to discuss the interim results of the CART-2 clinical study of AGI- 1067. To participate in the audio portion and have the opportunity to pose questions, dial (800) 475-3716 for domestic callers, and (719) 457-2728 for international callers, and provide the Passcode 879664. A link to the webcast of the audio portion of the call and the accompanying slide presentation will be available on the Investor Relations section of the Company's website, under the "Investor Calendar" tab, atherogenics.com  .

The webcast will be available for seven days on the AtheroGenics website.

About AtheroGenics

AtheroGenics is focused on the discovery, development and commercialization of novel drugs for the treatment of chronic inflammatory diseases, including heart disease (atherosclerosis), rheumatoid arthritis and asthma. The Company has four drug development programs in the clinic. AtheroGenics' lead compound, AGI-1067, is being evaluated in the pivotal Phase III clinical trial called ARISE, as an oral therapy for the treatment of atherosclerosis. AGIX-4207, the Company's second clinical compound derived from its proprietary v-protectant(TM) technology platform, is a novel, oral agent being tested in a Phase II clinical program called OSCAR, for the treatment of rheumatoid arthritis. AGIX-4207 I.V. is an intravenous rheumatoid arthritis treatment that has completed a Phase I clinical study. AGI-1096 is a novel, oral agent that is being developed for the prevention of organ transplant rejection in collaboration with Fujisawa. For more information about AtheroGenics, please visit atherogenics.com  .

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. These risks include statements which address operating performance, events or developments that we expect or anticipate will occur in the future, such as projections about clinical trial results, our future results of operations or our financial condition, research, development and commercialization of our product candidates, anticipated trends in our business, and other risks that could cause actual results to differ materially. These risks are discussed in AtheroGenics' Securities and Exchange Commission filings, including but not limited to the risks discussed in AtheroGenics' Form 10-K for fiscal 2003 and our Quarterly Report on Form 10-Q for the second quarter of 2004.




--------------------------------------------------------------------------------
Source: AtheroGenics, Inc.

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To: quote 007 who wrote (13139)9/27/2004 4:55:38 PM
From: Rudy Saucillo   of 40256
 
This is absolutely huge! Proof of the inflammation theory of coronary artery disease and a new paradigm for treatment.

These regressions are extraordinary vs. standard of care.

Well done, AtheroGenics!!

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To: Rudy Saucillo who wrote (13140)9/27/2004 5:04:02 PM
From: WilderElisimo   of 40256
 

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From: tom pope9/27/2004 5:30:12 PM
   of 40256
 
oh, oh - recent messages are blank. This is a test to see if I can read it

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To: tom pope who wrote (13142)9/27/2004 5:42:42 PM
From: zeta1961   of 40256
 
I can read it TOM...

CONGRATS to AGIX and NSTK holders!

no positions:(


Zeta

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To: quote 007 who wrote (13139)9/27/2004 5:42:55 PM
From: Biomaven   of 40256
 
The shorts are going to be absolutely creamed on AGIX. Couldn't have happened to a better bunch of jerks. <g>

Alas I was too timid to play this one. I'm getting chicken in my old age - need some of that AGI stuff to ream out my arteries.

Peter

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To: WilderElisimo who wrote (13141)9/27/2004 5:44:46 PM
From: Biomaven   of 40256
 
That one came out as blank, Wilder. Was that the system or your reaction to AGIX? <G>

Peter

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To: Biomaven who wrote (13145)9/27/2004 5:54:34 PM
From: Biomaven   of 40256
 
The SEC focus quoted in the story below is good news long term for the biotechs, although it may create some pressure in the short run. To some extent there is a clash between good scientific practice, which calls for disclosure of results only at scientific meetings and the needs of the financial community, which want the results immediately. Note that the SEC may to some extent be breaking new ground here in terms of requiring quick disclosure. (Maybe RCMac could comment).

Biotechs under SEC microscope on drug disclosure
Mon Sep 27, 2004 05:30 PM ET
By Kevin Drawbaugh

WASHINGTON, Sept 27 (Reuters) - Biotechnology companies are under U.S. regulatory scrutiny over their disclosure of information about drugs under development, people familiar with the matter said on Monday.

Inquiries by the Securities and Exchange Commission have not risen to the level of an industry-wide probe, but the sources said a handful of investigations are under way.

An SEC spokesman declined to comment.

The biggest news in biotech is often the progress and results of clinical trials for experimental drugs, which are the backbone of applications to the U.S. Food and Drug Administration for marketing approval and can heavily affect a company's share price.

The inquiries come amid increased pressure from Wall Street for good news on the biotech front, lawyers said.

"The SEC has focused on disclosure with respect to the status of FDA trials more than they have in the past," said Jeffrey Baumel, partner at the law firm of McCarter & English LLP in Newark, New Jersey, who advises biotech firms.

With fewer "story stocks" around since the technology and telecoms bubble burst, young biotech firms can come under intense pressure from the Street to provide positive news to support their share prices and hold investor interest.

When a company decides to provide information on trials, it must do so "fairly and on an even-handed basis, which means you have to give the bad with the good," Baumel said.

Often, difficulties arise when companies give information on a trial before it's over and fail to present the whole picture. "That's what leads to these problems," he said.

The issue was highlighted by the insider trading scandal at ImClone Systems Inc. (IMCL.O: Quote, Profile, Research) ahead of the company revealing that the FDA had refused to review the company's application for its cancer drug, Erbitux, in December 2001.

When ImClone publicly announced the rejection, executives painted the FDA's concerns as relatively minor. But portions of the FDA's rejection letter were later revealed to contain major concerns over Erbitux trials.

Erbitux finally won FDA approval in February 2004 to treat colon cancer, but not before the scandal resulted in prison sentences for ImClone's founder, Sam Waksal.

The SEC's increased interest in drug data disclosure also comes after it pledged in February to work more closely with the FDA on probing questionable disclosures.

Transkaryotic Therapies Inc. (TKTX.O: Quote, Profile, Research) said in late July it and its former chief executive had received SEC notices of possible actions against them related to a probe of the FDA's approval process for the drug Replagal, which treats a rare genetic disorder.

In January 2003, Transkaryotic failed to convince an FDA panel that Replagal could help patients. Transkaryotic faces shareholder lawsuits alleging it knew as early as December 2000 of FDA reservations about Replagal, but failed to tell investors about them until October 2002.

Transkaryotic, which is approved to sell Replagal in other countries, has denied the accusations. The company said it was fully cooperating with the SEC.

Biopure Corp. (BPUR.O: Quote, Profile, Research) has said it has been told by the SEC that it was considering civil action over concerns the company may have misled investors about the blood substitute Hemopure.

A Biopure spokesman said it has cooperated and responded in writing to the SEC, saying it ought not initiate a proceeding. He said Biopure does not know whether any action will follow.


© Reuters 2004. All Rights Reserved.


Peter

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To: Biomaven who wrote (13145)9/27/2004 6:32:57 PM
From: WilderElisimo   of 40256
 
Both!

I don't trust agix and I don't trust these results, but then maybe it is just sour grapes since my beef with them goes back 3+ years!

Anyway, on the old SI if you ranted and then recanted, as I just did, you could delete the text and press submit and the old SI would confirm "your message is empty" and it would not post. Today, it posts a blank message. Sorry.

I'm glad for the enlarged community, but I'm not sure where it will take us.

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To: zeta1961 who wrote (13131)9/27/2004 6:35:18 PM
From: former_pgs   of 40256
 
My background is purely research focusing on biophysics / cell biology of cardiac muscles.

I have absolutely no background in oncology.

>It seems to me in theory Tarceva/Iressa 'should' have been more efficacious in lung, brain(Iressa at ASCO showed no PFS nor OS benefit..and realisically, imo..the lung cancer OS benefit was marginal at best..<

I learned a big lesson a while ago and now I wait for what "is" rather than look for what "should" be. I now run on 95% empirical data, 5% gut. So my perspective on the lung cancer overall survival benefit is that it was an important achievement. I did not expect more, as I personally believe a 0.72 hazard ratio is substantial rather than marginal. Same train of thought for their recent pancreatic data... 0.81 HR is substantial in my book.

It does appear that the early encouraging data using EGF-R inhibitors on brain cancer did not pan out with larger patient numbers. I did not follow the Iressa data closely, but can add to your comments in that OSIP has also tempered their early enthusiasm for malignant glioma. I have no particular insight as to why things went from looking so good to so bleak in this indication.

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