Bruce: Thanks for your input. I have to recheck what Holveck had said, but think you were in line or perhaps more conservative than he...On the arthritis side, it seems to me that IMNX is leading CNTO since I believe they are now awaiting approval, and IMNX has since soared in anticipation but declined recently. So, even if Avakine partner is announced and the drug is subsequently approved, say by 3-4QTR, I don't see the stock moving more than 5-10 points due to limited earnings potential. However, come '99 when and if Avakine is approved for arthritis, the stock will undoubtedly be trading much higher.
So, the question for '98 is, can the stock come back to the old 50+ high based on a partner deal, Crohn's use approval, and expanded earnings via Reopro? Perhaps some financial numbers could be projected via the 10K/Q -- not sure, but perhaps Pancho via his expertise could throw some light on this?
To make the equation more complex, as mid-year aproaches the stock will then be anticipating '99 expectations. Therefore, the potential for arthritis approval ( '99? ) needs to be cosnsidered.
How it will compete with IMNX's drug (assuming approval) is a big Q!
I'd sure like to know how Dr. Hecht of ML is looking at this situation. As I recall, based upon recent ugrade the stock was projected upward to $42 in 12 months.
Regards,
FNS
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