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Biotech / Medical : Biotech Valuation

CRSP 55.63

-1.1%

1:28 PM EST

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To: Biomaven who wrote (32821)	11/5/2009 1:21:33 PM
From: Arthur Radley	Read Replies (1) of 52153

MITI---It was my understanding that the issue of gaining back the full control from Medimunne was a major factor. From listening to previous CCs this was a concern from several of the analyst.....with them thinking that getting the drug back would be a major positive for MITI. From today's CC that continued to be the observations from several of the analyst on the call. For those wishing to hear the CC...call 800-642-1687 ID#37942882 Well worth the time to get an idea of coming data presentation at (ASH)..after all this hyping of this conference and the data.......they better deliver the goods. They did reveal the cost for the repurchase from Medimunne.......they will pay $6.5 million, spread over the period from now until late 2010. Medimmunne chose to move forward with their internal program for this indication, but they still will get a royalty should MITI get final approval. Also, it appears that MITI wanted full severance from MEDI in that the mfg. will returned to MITI and a new supplier is being negotiated at this time. The CEO stated that current negotiation with the FDA are ongoing and that phase testing here in the US will begin in 2010, and that current efforts in Europe will proceed with no changes in current plans. The stock has apparently reacted positive to this CC, but volume is very small...guess all the money today is flowing into the big cap stocks. (:<) The CEO was very upbeat about the sanofi deal.......this was for an indication that they hadn't been working on, so sanofi apparently decided there was merit to the drug and why they payed the amount of the upfront fee with no Phase I data available and the agreement to pay MITI to get the drug through Phase I testing.

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