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Biotech / Medical : Aronex Pharma (ARNX)

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To: Dauntless who wrote (23)	5/14/1997 7:19:00 PM
From: Tara Cobble	of 320

ARNX had a news release today which you may want to go read off Yahoo. A short summation is: 1) The Company announced that it has signed an agreement with Grupo Ferrer Internacional, S.A., a leading Spanish pharmaceutical company, to commercialize and market Nyotran(TM) in Spain and Portugal. 2) The news that affected the price (IMO) is that (in the same release) they announced to extend trials on Nyotran(TM) to support its NDA for FDA approval. The release goes on to say that ARNX has been actively communicating with FDA and based on these talks they (ARNX) feels appropriate to get further data prior to submitting for NDA through the FDA. Even though the release sounds positive, I think it was a blow since they had expected to file for NDA sometime in '97 and now the study sounds like it will extend sometime into '98 prior to filing for NDA. Read the release and then we can all share our opinions on the news release. Tara

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