Research Paper on:
AN ANALYSIS OF IMCLONE SYSTEMS, INC.

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dumped a large amount of ImClone shares the day before it was released that the Food and Drug Administration (FDA) had not approved the companys Erbutux, a drug said to  fight colorectal cancer. Although the company has received a great deal of publicity, however, there are still those who associate it with dirty deals and dishonest trading, rather than a  pharmaceutical company that is working to develop anti-cancer drugs. As a result, ImClone faces many barriers to extricate itself from its current public relations nightmare (which has also impacted its  trading value on Wall Street). ImClone Systems Incorporated, which is traded on the NASDAQ exchange under the symbol IMCL, styles itself as a  "biopharmaceutical company dedicated to developing breakthrough biologic medicines in the area of oncology" (ImClone Systems Incorporated, 2002). Although founded in 1984, the company demonstrates only product "candidates," rather than actual  products (ImClone Systems Incorporated, 2002). While at first glance, this close to 20-year gap between launch and viable product might be somewhat disturbing, it needs to be remembered that in  the pharmaceutical industry, it can take years to research and develop a drug - not to mention the clinical trials necessary for approval by the Food and Drug Administration (FDA).  The drug that ImClone hopes to hang its hat on is Erbitux, which was developed to target and block Epidermal Growth Factor Receptor  which has been found on "a significant percentage of all solid tumors" (ImClone Systems Incorporated, 2002). Other drugs that the company is testing now include IMC-1C11, which is said to  inhibit tumor blood growth and BEC2, a vaccine that will prevent or delay recurrence of certain tumors (ImClone Systems Incorporated, 2002).