Scott, you are correct in the outlook for this stock. Yet, it still seems to hold up $$ wise. Dipping a little lower today. When we first looked at this puppy, it was around $6, with one PIII drug. That drug has since tanked.
I bought some the last visit to the $6 area. I expect it will go lower than today, again. I have mentioned it before, they have a patient claim issue working thru the PO.
PATENT OFFICE GRANTS VION'S REQUEST FOR INTERFERENCE WITH BIOCHEM PHARMA'S PATENT CLAIMING USE OF 3TC IN TREATING HEPATITIS B
Vion Receives Senior Party Status in Patent Interference
NOV. 29, 1999 - VION PHARMACEUTICALS, INC. today announced that it has obtained a ruling from the United States Patent and Trademark Office, Board of Patent Appeals and Interferences, granting Vion's request for an Interference between a Vion-licensed patent application from Yale University and United States patent No. 5,532,246 assigned to BioChem Pharma, Inc (BCHE). Both the patent application and the BioChem Pharma patent claim the right to the use of 3TC, also known as lamivudine and Epivir, to treat hepatitis B virus ("HBV"). Vion believes that the BioChem Pharma patent involved in this Interference is licensed to Glaxo Group. snip....
This might be worth some $$, but who knows when. Looks to me like they will be going for more financing or that partnership that is needed to continue the PI trials. I agree that their position on seeking a partner is weak.
The CEO was given >900K shares to join. The last company he ran was not all that successful - transformed into ELOT. I would rather have a CEO with a more relevant - biotech - background. Maybe he can move this company forward, too early to tell. Also, the CFO is leaving. Lots of solid science coming out of Yale.
I wanted to go to the annual meeting but they moved it to NYC instead of New Haven. I guess they wanted to be near the analysist. Slides are available on the web site.
Jim |
