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Biotech / Medical : Aviron
AVIR 3.375+1.7%Nov 11 3:59 PM EST

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To: Haolin Ni who wrote (115)8/4/1997 7:45:00 PM
From: Brad C. Dunlap   of 645
 
A few comments that I promised. 1] I checked all of the filings in depth on my Bloomburg and of all of the 144 sales only one was an officer and he sold 6500 at $9/sh on 5/5/97 and the filing was announced on 6/13/97. All other sales are 144 filings of individuals/institutions that are NOT RELATED to AVIR. You can partially confirm this on Haolins link to the insiders. You will see the code S NNNNNN and if you click on the KEY it will give you definitions of what the N means.It clearly states that NOT ALL OWNERS ARE INSIDERS. I pulled each form and there are actually quite a few more then what Haolin's link shows and NONE are affliliated with AVIR except the one officer that I mentioned.
Contrary to what David said this is the second time I will post on a few biotechs with very high insider selling. I went back to 1992 and reviewed the insider activity on Amgen and there was so much selling that I lost count after 100 filings and would quess that there were over 200 filings all bona fide insiders. To repeat on Agouron that I mentioned before of which has gone from 20 to 103 in the past 2 yrs. insiders have blasted this stock from selling many 1000's of shares in the 20's up to th the present. I consider both companies successful with the Agouron story still unfolding but certainly not as proven as AMGN.
I can now say with 100% conviction[double checked the dates] that H&Q reitererated their previous buy on 7/14 the same day as the phase III results were made public with BEAR STEARNS following on 7/15. This is certainly following the nasd rules that I previously mentioned. Indeed the underwriters in this financing are Robertson ,Stephens, Bear Stearns, and H&Q, and by the dates of their comments clearly they are following nasd rules.
MIchael Goldberg[analyst of Sands Brothers] also talks about AVIR's flu application being SIGNIFICANTLY less costly to administer than the normal alternative and has the potential to revolutionize the flu vaccination market. He highlights superior efficacy and nasal delivary. Good Luck
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