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Biotech / Medical : North American Vaccine
NVX 1.133-16.7%Jan 16 3:59 PM EST

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To: David Bogdanoff who wrote (320)3/13/1998 7:35:00 AM
From: Don W Stone  Read Replies (1) of 507
 
SPOOKED: I think friday the 13th started yesterday.
Well here is an update on what is happening;
" NVX Advised by FDA that CERTIVA is on Track For Completing Final Streps for Licensure. "
"FDA requested additional information which the Company intends to submit shortly."
" Based on its meeting with the FDA, the Company anticipates that the regulatory review process could be completed during the first quarter of 1998 or shortly thereafter."
That was Jan 9, 1998.
Nothing has changed other than the fact that now we are a lot closer to hearing the good news.
If you happen to be holding Mar 17 1/2 call options, yesterday was a repeat of what happened in DEC about one week before options expiration. The options trader proceeded to make them all worthless.
I don't understand the working of themarket but that was the opinion of a NY Broker who's opinion I do respect. Makes sense.
But than people get spooked anyway when news is imminent from the FDA.
My advise . Go fishing. FDA approval is near. CERTIVA WILL GET APPROVED. THE NEWS RELEASE I REFERENCE HAD THE APPROVAL OF FDA LAWYERS ( I was told by a Company spokesmen)BEFORE IT WAS RELEASED. IT WAS WELL THOUGHT OUT.
If the "shorts" make any noise at this time you can be sure that the opposite of what ever they try to convey is what really is the truth.
If they happen to reference what appears to be a credable source you can be sure it won't be one that you can get to readily to varify their claims. Shorts aren't stupid but don't think for a minute that if they get in trouble as they are here they won't distort, lie, and do what ever they can to try to remedy their situation.
Unfortunately, intelligence and integrity don't always go together.
APPROVAL IS INDEED NEAR. IT WILL HAPPEN. You will be kicking your own butt big time if you sell out at this late date.
No one knows exactly when FDA approval will come, it could happen to day, next week or early April. Yep, I'd go on a long fishing trip. :-}
When you come back you will be a lot richer.
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