IMNR - Immune Response Message Board

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Biotech / Medical : IMNR - Immune Response

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To: Chris Wilkinson who wrote (109)	9/15/1997 1:17:00 PM
From: Mark B. Martell, CCM	of 1510

Given the block of trading, I would surmise that some institutions are looking at this as a long term play. Given an 18 month buy and hold strategy, IMNR should be moving into production in late 98-early 99 if Remune is successful. If Remune turns out to be a $300MM+ per year drug, given the current market cap, we are looking at some bargain prices. Just a wild guess here. The owners have personally vested capital (taking personal debt) which has loan covenants at $28/share or thereabouts. Seems to me they have a strong belief and now incentive that this can be a short term (one year) goal. The strike price of $20 makes sense to me, and may be, perhaps, conservative. Either way, I'm pleased with the recent upswing ;') Mark

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