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April 8, 2004 Stock Pick: Protein Design Labs, Inc. (PDLI)

Stock Price: $15.73

Protein Design Labs, Inc. is a biotech company primarily involved in discovering and developing humanized highly specific antibodies for the treatment of disease, particularly inflammatory bowel disease and cancer. The company generates revenue through licensing, humanization and royalty arrangements.

Protein Design Labs currently has four drugs in clinical development. Through these four drugs and their current operations we believe they are on a strong path for becoming cash flow positive and possibly profitable in the future.

Their clinical drug Nuvion for severe ulcerative colitis has a good chance at carving out its own niche. There are over 40,000 patients in the U.S. with severe uclerative colitis with no treatment currently available.

PDLI is about $2.00 from its 52-week high and appears to be at a good buying point for those looking to hold for the long term.

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