print pdf

Cell Genesys (Nasdaq: CEGE) is focused on the development and commercialization of novel biological therapies for patients with cancer. The company is currently pursuing two clinical stage product platforms—GVAX TM cancer immunotherapies and oncolytic virus therapies. Ongoing clinical trials of GVAX cancer immunotherapies include two Phase 3 trials of GVAX immunotherapy for prostate cancer (VITAL-1 and VITAL-2), Phase 2 trials of GVAX immunotherapy for leukemia and a Phase 2 trial of GVAX immunotherapy for pancreatic cancer. The oncolytic virus therapy clinical program currently includes a Phase 1 trial of CG0070 for bladder cancer. Cell Genesys continues to hold an equity interest in its former subsidiary — Ceregene, Inc., which is developing gene therapies for neurodegenerative disorders. Cell Genesys is headquartered in South San Francisco, CA and has manufacturing operations in Hayward, CA.

Recent Cell Genesys Highlights

•	In April 2007, Cell Genesys announced final, updated results from its second multi-center Phase 2 trial of GVAX immunotherapy for prostate cancer which evaluated escalating doses of the immunotherapy in 80 patients with metastatic hormone-refractory prostate cancer (HRPC). Additional follow-up of the 22 patients who received the dose that is comparable to that being employed in the company’s ongoing Phase 3 program indicates that the median survival is 35.0 months. The company previously reported final median survival results from its first multi-center Phase 2 trial of GVAX immunotherapy for prostate cancer in 34 patients with metastatic HRPC that showed an overall median survival of 26.2 months. The survival results from the two, independent multi-center Phase 2 clinical trials compare favorably to the previously published median survival of 18.9 months for metastatic hormone-refractory prostate cancer patients treated with Taxotere ® (docetaxel) chemotherapy plus prednisone, the current standard of care for these patients. GVAX immunotherapy for prostate cancer is being compared to Taxotere chemotherapy in the ongoing Phase 3 trials to evaluate a potential survival benefit.
•	In February 2007, announced encouraging follow-up data on the first twelve patients with advanced prostate cancer treated on a Phase 1 clinical trial of GVAX immunotherapy for prostate cancer, administered in combination with Medarex’s fully human anti-CTLA-4 antibody, ipilimumab (MDX-010). The twelve patients who have completed treatment to date included six patients who received the combination therapy at the therapeutic doses currently being evaluated in both GVAX and ipilimumab Phase 3 clinical trials. Antitumor activity was observed in five of these six patients, including prostate-specific antigen (PSA) declines of greater than 50% that were maintained in four of these patients for at least six months, with the longest response ongoing at more than 12 months. Moreover, clinical evidence of antitumor activity was observed in three of these five PSA responders, including improvement of multiple lesions on bone scan, resolution of abdominal lymph node disease by CT scan, and improvement in pain due to bone metastases, respectively. All five patients with PSA partial declines have experienced either Grade 2 or 3 immune-mediated endocrine deficiencies similar in type to those previously reported with ipilimumab therapy and were successfully treated with standard hormone replacement therapy.
•	In January 2007, announced follow-up data from a Phase 2 clinical trial of GVAX immunotherapy for pancreatic cancer in 60 patients with operable pancreatic cancer who received the immunotherapy after surgical resection of their tumor and adjuvant radiation and chemotherapy. The updated results showed a median survival of 26.8 months. This compares favorably with published, historical data from multiple single-arm and randomized studies in patients undergoing pancreatic cancer surgery and adjuvant therapy for whom the median survival has been reported to be in the range of 17 to 22 months, including the most recently reported results for gemcitabine chemotherapy.
•	The company had approximately $170 million in cash, cash equivalents and short-term investments at the end of the third quarter of 2006.

Company Information (12/01/06)
Nasdaq symbol: Shares outstanding: Institutional ownership: Number of employees: Company headquarters:	CEGE Approximately 62 million Approximately 63% Approximately 292 South San Francisco, CA
Analyst Coverage
Cantor Fitzgerald Pamela Bassett 646.734.7694			Lehman Brothers Jim Birchenough, M.D. 415.274.5393
Canaccord Adams Joe Pantginis 646.264.6021			Needham & Company Mark Monane, Ph.D. 212.705.0346
JPMorgan Richard Smith, Ph.D. 212.622.6531			Next Generation Equity Research Liisa Bayko 312.334.4405

EXECUTIVE Team
Stephen A. Sherwin, M.D. Chairman and Chief Executive Officer		Kristen M. Hedge, M.D. Vice President, Clinical Research
Sharon E. Tetlow Senior Vice President and Chief Financial Officer		Christine McKinley Senior Vice President, Human Resources
Robert J. Dow, M.D. Chief Medical Officer		Michael W. Ramsay Senior Vice President, Operations
Carol C. Grundfest Senior Vice President, Regulatory Affairs & Portfolio Management		Robert H. Tidwell Senior Vice President, Corporate Development
Peter K. Working, Ph.D. Senior Vice President, Research and Development
Cell Genesys, Inc. 500 Forbes Boulevard South San Francisco, CA 94080 650.266.3000 Fax: 650.266.3010 http://www.cellgenesys.com E-mail: ir@cellgenesys.com
Statements made herein, other than statements of historical fact, including statements about the company's and its subsidiaries’ progress and results of clinical trials and preclinical programs, timing of clinical trials, marketability of potential products and therapies and nature of product pipelines are forward-looking statements and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the success of research and development programs, the regulatory approval process, competitive technologies and products, patents, corporate partnerships and the need for additional financings. For information about these and other risks which may affect Cell Genesys, please see the company's Annual Report on Form 10-K for the year ended December 31, 2006 dated March 1, 2007 as well as Cell Genesys' reports on Forms 10-Q and 8-K and other reports filed from time to time with the Securities and Exchange Commission.