I wonder if any gamblers noticed my post 334 on the GMC thread yesterday.
It looks as though bottom fishing can sometimes pay off.

from another site:

Reuters.com

Elan falls on new report of Tysabri-linked illness
Thu Jun 2, 2005 05:11 AM ET
DUBLIN, June 2 (Reuters) - Shares in Elan Corp. (ELN.I: Quote, Profile, Research) fell as much as 24 percent on Thursday following a report that a fourth patient taking its multiple sclerosis drug Tysabri may have contracted a deadly brain disease.
Elan halted sales of Tysabri on February 28 after a patient died from a rare brain infection, known as PML.

The Boston Globe reported on Thursday that Biogen Idec Inc. (BIIB.O: Quote, Profile, Research) , with whom Elan developed Tysabri, had told the Food and Drug Administration that a fourth patient may have contracted PML.

Shares in Elan dropped to a day low of 4.91 euros and were 15.1 percent lower at 5.35 euros by 0911 GMT.

looks like we'll see a further fall after the US market opens (although the % will have been for the greater part already abosrbed) then a degree of stablization and then a pointer of where we go fom here.

from another site:

Things are not as bad as first thought, so up we go again!

Goodbodys have a buy on Elan:

Elan (Buy, Current Price $6.85)
What is material to Tysabri's progress?
After a day with no communication on speculation around Tysabri, a spokesperson for the FDA would now appear to have confirmed that Elan and Biogen Idec have received a report of a suspected case of PML. Given the lack of response from both Elan and Biogen Idec, we infer that the case referred to has been deemed by all parties involved not to be material to the progress of Tysabri through the approval process. The reference to the Freedom of Information Act in earlier speculation is particularly intriguing though. A Federal body can take 20 days to respond to a request for data under FoI and has the opt-out clause that it will not disclose information that it considers to be commercially sensitive. From this, the inference of a fourth potential case (if from an FoI-driven source) could possibly be from data lodged with the FDA some time over the past few weeks. We consider it inconceivable that, if material, that data were not disclosed to the market during this period. Given the recent corporate action (debt retirement) and bullish stance on Tysabri, both Elan and Biogen Idec's definition of "material" will have been closely scrutinised by all parties in the review process. The inference, therefore, is that if there is a fourth suspected case of PML, it has been agreed by all parties involved to be, as yet, immaterial to the progress of Tysabri through the review process. Undoubtedly, it will be discussed at the Biogen Idec AGM today (15:00 Dublin/London).

Good luck/dyor

www.ninds.nih.gov/disorders/pml
The US National Institute for Neurological Disorders, puts into perspective the rare brain disease that has been linked to ELA's flagship drug. The impression given is that it is much less rare now, being an opportunistic disease that can take hold in the presence of various immuno-suppressor drugs, AIDS victims being especially vulnerable.
ELA seems to be back on the road to recovery.
sd.

wow......the spike yesterday afternoon was pretty impressive......it looks like recovery is well on its way.......it looks as if TY will come back, sooner rather than later perhaps?!....should see an excellent gain today and further hikes over the coming weeks.........dyor.......and good luck all.

ps (spike ref US market....code ELN)

Yes! The latest 2 year Sentinel trials show TY to be successful as a combination drug, and all post-crash investors should now be well in pocket with ELA, perhaps with lots more to come, should TY ever get re-approved.
sd.

With ELA up over 30% and ULT up 16% this morning, I hope all bottom fishers
are celebrating today. Anyone in the Mayflower tonight can have drink with me.
sd.

This is going to fly in the next few days. Keep a close watch and mark 21 Sept in your notebook . The best place to follow the news flow on this is the yahoo MB. look under ELN. as Elan has a lot of different tickers. The MB to look up Elan is the U.S. message board. not the U.K. one.

Can you give any reason(s) why Guinness69?

Looks like time for bottom fishers to celebrate again, but no idea why ELA is climbing.
They have crawled upwards throughout the year, then suddenly spurted recently. The chairman spent 1/3M on shares at the beginning of November and in the last couple of days US brokers have upgraded their rating. There is just a possibility that their flagship drug, Tsybari, is about to be re-approved and if so the sp will go through the ceiling, but I can't find anything - can anybody?
sd.

Wall St AFX News reports that ELA was Tuesday's most heavily traded European stock, even ahead of Vodaphone, on expectations that Tsybari would shortly return to the market. Meanwhile, there's profit taking here today.

Thanks for the nudge on this one earlier in the year squidd, a very nice gain so far.

Good news this morning. The U.S. FDA has recognised the significance of the flagship drug Tsybari and granted it 'priority review status'. Hence the sp jump.
sd.

ELA continuing its upward crawl and has even put on a spurt recently. Now again at a post crash high and everyone should have at least doubled their money. Still more to come I think.
sd.

Another mini leap this morning, over 5% up on opening.
sd.

There was a huge share purchase by the chairman at the beginning of November and now over the past 3 days we are seeing a dramatic rise. I wonder if news is leaking out about re-approval of their flagship drug Tsybari.
sd.

I like the look of this one squidd the end of period cash balances are going up! and losses going down! hope it's not too late to add to my ISA for a profit sorry I missed your posts on it now! I'm holding MDY and hoping as driver has high hopes it will pay off.

I like the look of this too.Never noticed it before looking at this thread and it will be going on my watch list.Do you think its looking overbought at the moment.

Soundings among my medic contacts suggest that there is virtually no other treatment for multiple sclerosis, so if Tsybari were re-approved in could be huge.
Meanwhile, the FDA and the manufacturers keep making optimistic noises.
I've been adding to ELA from sales of AEX, which seems to have temporarily run out of steam
sd.

This looks one of the biggest punts around, based mainly on one single win or bust treatment, but the chart says 20p pdq. Considering a gamble.
Any chance of some charts in the header, thanks for flagging it up squidd, even if i am a tad late in noticing the potential!