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Biotech / Medical : Aronex Pharma (ARNX)
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To: Tara Cobble who wrote (26)5/25/1997 7:30:00 AM
From: Eduardo Canto   of 320
 
Tara, I also agree. I think that at their $4 a share price now they are very undervalued despite expanding the Nyotran trial to end next year rather than this one. They have 40m in equity and 14m shares outstanding that gives them a value of $2.5 a share. Their cash should las for another 8-10 quarters at the burn rate of about 3.5M per quarter. I remember correctlyy they will start a Phase II trial of Zinetivir for HIV and a phase II for Annamycin by the end of this quarter. Looks like there is some upside potential here. In addition they will file a NDA for Atragen for acute promyelocitic leukemia be year end.

Any ideas?

Eduardo
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