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Biotech / Medical : AutoImmune-AIMM

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To: Mel Kaplan who wrote (113)	5/12/1997 12:50:00 PM
From: Rocketman	of 298

I'm sorry for all who've gotten sucked in by this one too. Fortunately I wasn't. This sure seems to put a dent in the prospects of oral tolerance being a viable technology though. What is really disconcerting is that two RA trials were both non-significant. Even though AIMM is now trading below book and cash values, they will burn this cash trying to prove themselves right, and may not have the cash to do it. They certainly don't have the cash to finish developing the 9 drugs they have in trials, so the next expectation is the inevitable project chopping and layoffs to get lean and into survival mode. It might be a good dead cat bounce prospect for a quick trade, but doesn't seem like a good long term investment relative to the other biotechs with better prospects. Such is the life when you play venture capitalist though, hope you all don't have too much sunk into this one company, diversification is the key to playing biotechs. Rman

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