XOMA. Bull or Bear? Message Board

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Biotech / Medical : XOMA. Bull or Bear?

XOMA 30.02

+0.7%

11:03 AM EST

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To: Robert K. who wrote (16017)	8/31/2002 1:03:18 PM
From: LarryS	Read Replies (1) of 17367

More dilution is almost a certainty. XOMA has enough cash until summer of '04. Raptiva's BLA was originally expected to be filed this summer and with approval a year later plus a quarter more to get it on market, revenue/profits should have started in late '03. BUT with the delay the earliest that revenue would now start flowing into XOMA would be the 2nd qtr of "04. That will also be the time frame when we run out of cash, which doesn't look good since the first several months of Raptiva sales will probably be small...thus very little profits to pass on to XOMA just as we run out of money. This has to be an irritant to XOMA mgmt since this delay throws a lot of their plans up in the air. That is why I am amazed they aren't putting pressure on BAX to get going with BPI. The one saving grace might be new money coming in from the BSTE court case over patents. That should be decided by the summer of '04 and might bring us a chunk of change just when we need it. If not I don't see how XOMA can keep from selling more shares, diluting still further our ownership. Just my 2 cents, and worth exactly that. :-)

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