Immunomedics (IMMU) Message Board

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Biotech / Medical : Immunomedics (IMMU)

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To: M. LaMancha who wrote (156)	6/9/1997 7:37:00 PM
From: David B. Higgs	of 371

M. I called my "source" today to get an update on possible takeover. Keep in mind that although I do not have a relationship with this person, he is a broker and like all brokers I have known, they tend to be somewhat over positive. I was told that neither IMMU or MKG will return his calls, but he still feels confident something will happen by mid next week (approx. 6/18 vs. the 6/15 date he gave me last week). When questioned about the upward movement of two weeks ago and last week's downturn, I got a rather typical broker answer that the upward movement was the result of institution(s) taking a position. When their demand was met, supply outstripped demand resulting in last week's reversal. This broker then stated (maybe someone can verify this) that the last few days' trading was mostly small lot selling and large lot buying with the indication being that the smart money is buying. Personally, I brought IMMU based solely on its potential. The takeover rumors may be nothing more than a repeat of March. If this rumor dies, I would expect a new rumor around September. If a takeover happens, great, otherwise I'm waiting for the July European news. Regards Dave

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