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Biotech / Medical : InterMune (nasdaq)ITMN
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To: Secret_Agent_Man who started this subject12/18/2000 6:33:14 PM
From: IRWIN JAMES FRANKEL   of 508
 
From Red Herring:

redherring.com

Right on Praecis's heels is Intermune Pharmaceuticals (Nasdaq: ITMN), with a 136 percent gain since its March IPO. Intermune, which was taken public by lead underwriter UBS Warburg, licenses its key product, Actimmune, from Genentech under an agreement through at least 2018. Intermune believes that the drug, which is being tested for various immune disorders, could ultimately reach $3.5 billion in annual U.S. sales. But for now, as it engages in expensive clinical trials, Intermune is bleeding red ink to the tune of a $48 million net loss on trailing 12-month revenue of $7.5 million. But thanks to the IPO and a follow-on offering, Intermune is sitting on nearly $200 million in cash, which should carry the company until significant product revenues roll in. Genentech owns about 5 percent of Intermune.
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