ImClone declares freedom

ImClone Systems Inc. believes that last week's deal for its C225 cancer treatment with Merck KGaA frees it of dependency on the equity markets by providing enough funding - as much as $90 million in cash and loans - to reach profitability by 2001.

For this to occur, in the next two years IMCL must see C225 through the clinic in a battery of indications, obtain expedited reviews and secure a revenue stream from sales of C225 as a second line therapy to treat head and neck cancer. C225 is a monoclonal antibody that inhibits the activity of the epidermal growth factor receptor (EGFr)...