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Biotech / Medical : NORTH AMERICAN VACCINE (NVX)
NVX 1.510-3.8%Oct 31 3:59 PM EST

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To: Don W Stone who wrote (20)1/12/1998 7:24:00 AM
From: Don W Stone   of 21
 
"On Track for Completing Final Steps for Lincensure"

Company spokesmen told me that the wording of this press release was approved and agreed to by FDA lawyers.

I have spoken to the Company, I have spoken to many other investors who have spoken to the Company.
My interpretation now is : That everything that the FDA has reviewed so far is AOK, in-line , "on track". That the FDA is asking for information that the FDA is aware that NVX has in-hand ( "will provide shortly", within the next couple of weeks) so that the FDA can review it and than release the final approval. The FDA is committed to promply reveiwing the added info . That it be completed in the first quarter is a conservative, defensive position on the part of NVX. They really don't want to disappoint us.

This to me can be interpreted as a preliminary APPROVAL subject to NVX providing certain information that turns out can be readily provided.

CAN'T GET MUCH MORE POSITIVE THAN THAT.
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