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Biotech / Medical : IMMULOGIC
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To: john b who wrote (210)11/24/1997 7:16:00 PM
From: Bosco  Read Replies (2) of 305
 
John & all - My conclusion is hughly +ve after rereading the PR a couple of times.

My rationale is this: IMHO, IMUL is trying to convey to the investment community it is ready to shed its ivory tower image and focus on commercialization.

The Company concluded that the significant additional costs necessary to commercialize the products were not justified in light of the Company's other strategic alternatives. The Company will continue its technical efforts on two programs: vaccines for drugs of abuse and recombinant proteins directed to the diagnosis and treatment of allergic diseases. As part of the restructuring, the Company intends to reduce headcount and sublease the majority of its space in its Waltham facility.

After implementation, the savings from the restructuring will decrease the net cash spend to approximately $3 million annually. The cash resources saved by these actions will permit the Company to pursue other alternatives and it has retained Hambrecht & Quist to assist in this process. As of September 30, 1997, the Company had approximately $54 million in cash and investments.

ImmuLogic is focused on developing treatments for allergies and substance abuse. ImmuLogic has a comprehensive worldwide patent portfolio covering the recombinant production of the most common environmental allergens. The Company recently filed an IND for its cocaine vaccine and has an ongoing nicotine vaccine research program.


I think this above quoted portion of the PR speaks for itself

rgds Bosco
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