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Biotech / Medical : Micrologix biotech

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To: Larry G. who wrote (539)	8/21/1999 11:48:00 AM
From: Carter Berezay	Read Replies (1) of 792

Larry, Pete's comments are very valid. To a bystander a high salary and bonus always look bad on the surface. I know nothing about biotech salary levels but I do think management leaders should be compensated well for their efforts. The proof is in the pudding. Dany did orchestrate that last financing! Now it is up to Dany to lead MBI forward. He has put together a financing that will give MBI some breathing room for the forseeable future. It may look that they gave up a lot of shares for now but having been in similar situations I've learned it is best to take the money when it's available. Dany did just that. From what I hear MBI is going to have 4 drugs in Phase trials over the next 6 months - 226, acne, eye and an unspecified indication. When you think of it perhaps $15 million may not be too excessive. MBi will need a partner for all or some of their drugs soon enough. If 226 is as good as the trials indicate, MBI will get more for it in a partnership agreement (royalty-wise)once the next Phases are more advanced. Time to keep the momentum going! I expect a Phase II announcement from MBI within a very short time. The other drug candidates? Time will tell. It's show-time!!!!!! Carter B.

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