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Biotech / Medical : IPIC
IPIC 0.00010000.0%Aug 15 3:35 PM EST
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To: KS who wrote (1322)8/5/1999 10:41:00 PM
From: Cacaito  Read Replies (2) of 1359
 
IPIC gives back 4.2 M shares (some $20 M per Intercardia actual market
share) in exchange for increase rights in Bextra (and in the entity so called CPEC LLC).

Ipic does not have more interest in the rest of Intercardia (now Incara?)science.

Not even a week later, Bextra is proven worthless. Well they are looking for more data.

Bextra (bucindolol)used to look promising since many other beta blockers has shown benefit, but the fact is Bextra did not. Bextra apparent advantage is the minimal vasodilation effects, now it is proven with not effects at all.

Now Knoll gives their rights back, so no more expenses for Knoll in the Bextra failure.

IPIC is now hanging on Citicoline.

Pagoclone is still far behind.

The Leptin/AMGN works is never mentioned, Do they have still anything left on the Leptin business?

The cash is their only value, and is decreasing steadily each quarter.

From $72M to $37M

Debt of $27M, real equity about $10M.

This is something like $0.25 per share.

Minus the $80 M ? liability in cash or stock from the Redux debacle.

The founder and holder of important patents is given a farewell.

Will IPIC comeback? Citicoline is the only hope and with its drawbacks at the FDA is better to wait for the end of trial.
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