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Biotech / Medical : InterMune (nasdaq)ITMN
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To: Elmer who wrote (194)3/25/2002 7:10:48 PM
From: IRWIN JAMES FRANKEL  Read Replies (1) of 508
 
34, 33 and now watching.

The drop seems to be driven by shorts.

The price today is below the last two stock offerings 37 and 33 and below the conversion price of the converts of 38.40.

30 has offered major support before when the company was less liquid (cash over $400) and had a smaller pipeline.

But the biotechs are again dropping rapidly. That is a pretty poor backdrop for ITMN. But IF Actimunne works on IPF the background won't matter.

ij
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