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Biotech / Medical : Cellegy Pharmaceuticals (CLGY)
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To: Andy Blaher who wrote (229)3/5/2000 11:28:00 AM
From: aknahow   of 322
 
XOMA has done something that has radically reduced the risk profile and changed the nature of the company. I have a serious disagreement with the way XOMA has chosen not to disclose terms of material importance to shareholders, in the Baxter/XOMA agreement, but reading the 8 K-A filed on 2/3 will show that this is an agreement that not only mandates aggressive development but provides for potential milestones far above the $35 million figure for just one small indication. Another partnership is pending, and possibly just final signatures away, for Mycoprex. A pre BLA meeting has been scheduled, for Neuprex. For when? XOMA prefers that everyone be kept in the dark.

XOMA is a company that one learns to love and hate. Far from having done nothing new, the changes have been dramatic but the company has done an excellent job of keeping people in the dark and making it seem as though nothing is "different".

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