|Moderated By: Andreas Helke -- (Not Moderated) -- Started: 3/23/1998 9:54:00 PM Revision History|
About Corixa fom a quarterly report: Corixa Corporation, located in Seattle, Washington, is a development stage biotechnology company founded in September 1994. The company is focused on the discovery and early clinical development of proprietary vaccine products that induce specific and potent pathogen -- or tumor-reactive T cell responses for the treatment and prevention of cancer and certain infectious diseases. Corixa's strategy is to dedicate its resources to vaccine discovery and to establish corporate partnerships as early in the development process as possible for all aspects of product development and commercialization.
Steven Gillis, the Company's President and Chief Executive Officer, said "1997 was an eventful year for Corixa. We made significant progress on the identification of antigens which may prove useful in the development of novel vaccines to protect against tuberculosis. Corixa scientists identified multiple genes related to breast and prostate cancer whose protein products could form the basis of therapeutic vaccines in these two major markets." "During the year, the Company executed several important collaborative agreements with a variety of companies, including SmithKline Beecham in the fields of breast and prostate cancer vaccines and Abbott Laboratories in the field of rapid tests for diagnosis of tuberculosis."
The company seems to be liked by analysts. It has two strong buys, one of them from a Lehman Brothers report in february with a price target of $25. This did not prevent a price drop from $14 after its IPO to $7.50 today.
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