| Galt, We have been thinking about your IBRX questions, frustrations etc, and have tried to put our thoughts into a response. First, we are not frustrated with IBRX's progress so far, because we see the company with an approved product that seems to be selling just fine and is doing it with a single application. Further, the company is making a diligent effort to expand Anktiva to many cancers. We are particularly impressed with the lymphopenia possibility, because so many late stage patients fall below the 1000 level, and in the early trials Anktiva seems to get their leukocyte count back up. The company does seem to be running too many trials, but what if Anktiva really is effective in applications we have not considered? As for management and their decisions, it is hard to second guess them when they have so many good possibilities going forward. For example, what would a European approval and subsequent partnership do for IBRX, or a Saudi deal with upfront money and royalties, or an FDA label expansion? In addition and maybe most importantly PSS has a track record of monetizing his discoveries. He hasn't become so rich and successfull by blowing his opportunities so far. We still think IBRX stock will only move big when he and his investment bankers decide it is time to cash in or start cashing in, because he has so much riding on IBRX success, and we are betting that the time is not that far away. We still have the attitude that you should hold and add on any more weakness, and let things play out long term, since sales growth should continue to grow. But It looks like the biotechs will have to wake up first. Then companies with approved products will quickly come back to life. |
