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Biotech / Medical : Immunomedics (IMMU)

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To: Josh C. Pleasure, M.D. who wrote ()1/11/1998 8:05:00 AM
From: Joseph Lapsansky  Read Replies (2) of 371
 
Mr. Pleasure,
Are you still out there?
Poor Dr. Goldenberg (sp?). He comes out with a deal that gives him the financing he needs for 3 years and the stock goes down. This kind of deal was not what the street was expecting, and the lower the price of the stock, the more dilutive the deal is for shareholders. So he thinks that he can make it right by "clarifying" the deal and saying that they are still looking to make marketing agreements. The stock goes down further.
What he doesn't seem to understand is that the street has been looking for GOOD marketing agreements since the approval of CEA-Scan and there hasn't been any. I'm sure that, after working for so many years spent towards getting his work approved, he is loathe to make a deal that he feels will give up too much; however, I feel that it is time to give up something. The company has a lot of stuff in the pipeline that could make money in the future. Time to get some MEANINGFUL cash NOW from one of the Big Boys (Lilly, Schering, etc.) so that this stock doesn't get diluted to high heaven. If that happens, noone, including Dr. G will ever get the kind of return that justifies having held on for SO MUCH TIME ( I think that it is about five years now for me). The above ramblings are just my opinion.
Joe Lapsansky
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