IMNR - Immune Response Message Board

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Biotech / Medical : IMNR - Immune Response

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To: Greed Is Good who wrote (193)	12/22/1997 5:11:00 AM
From: Harry D. Kramer	Read Replies (1) of 1510

Hi Greed, I am a long-term investor in IMNR and I don't care too much about short-term movements, especially at the end of December. This time of the year has never been an easy call. I have no new information regarding IMNR that would change my view on the company's future. I agree with Mark that the last few days were normal profit taking, although I don't buy the reason. The fact that we won't hear any interim results from the Remune trial until late in the second quarter 1998 is not new. This has been in the market for quite some time. IMO, last weeks drop was also related to options expiration. I agree with you that we can find many reasons to overweight the biotech sector right now (see my ATIS post #1226), but the market doesn't really care about it, as we have seen in the last few days. Uncertainty is high and will remain high for the next few weeks, and in such an environment Wall Street will stay away from the high-risk stuff. And biotech as a group is still sky-high risk! Harry

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