Paul - yes, to a degree, we are in agreement.
1st, regarding ALLERVAX, I think they are too ambitious without a backer. And the conjecture of having technical difficulties may be possible, judging from the aborted Phase III last Summer.
Of course, cash is not the attractive point for investing in a biotech co. Rather, it is potentials.
Having said that, the decision is indicative of mgt decisiveness, a far cry from most corps, biotech or not.
I think both of us agree why HQ is involved; however, I think the 2 pgms left may very well to the way for IMUL to redefine itself. 1st, the Coke vaccine is running on free $ from NIH (?) One has to believe that its proposal was somewhat promising for the latter to dish out $2.2M at the time of govt cutback. Also, I believe that if it has any promise at all, it get easily get fast track status.
I don't know IMUL's claim of portfolio of recombinant proteins is true or not, but look at BioTime or even Genome projects, if there are patents (even if they are basic science,) they can be hidden assets. Biotech cos are not as quick on the feet like the computer cos who understand the revenue stream in royalty thru licensing patents and trademarks.
Together with the HQ angle, the question then is how much does IMUL worth - in addition to the cash - from the intellectual properties perspective.
What do you think?
rgds Bosco |
