Guilford (GLFD) - Steadily Rising Message Board

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Biotech / Medical : Guilford (GLFD) - Steadily Rising

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To: John Dwyer who wrote (67)	8/24/1997 1:40:00 AM
From: James Silverman	of 496

A couple more points. First, its $35M upfront which as you note consists of $15M cash, $15M equity investment and $5M for warrants. This is all in the coffers immediately. Should the warrants be exercised GLFD would be looking at an additional $20M or so. Second, should these drugs be successfully developed it will be a bargain for AMGN, but GLFD would still have much more upside leverage given its far lower valuation. Thats about all. Hope you had a nice vacation. Jim

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