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Biotech / Medical : IMNR - Immune Response
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To: Greed Is Good who wrote (295)3/21/1998 1:38:00 PM
From: Easy Mark  Read Replies (1) of 1510
 
Should IRC sell its RA therapy for a song?
Late last year the major drug companies became very interested in mergers rather than doing small deals with payoffs several year sin the future. I would guess that lots of partnership discussions - like the one IRC is having - got put on the back burner. With SK backing out of two merger discussions, many of those partnership discussions should now be moving apace. For example, Glaxo just announced a partnership deal with a small vaccine related company in England. This indicates their renewed interest in partnerships (after the failed merger) as well as their renewed interest in vaccine technology. These are all positives for IRC and its RA technology. Keep in mind also that the challenge to IRC's T-cell patent in Europe was resolved just last week. Now that it is resolved, an RA deal can be signed with no intellectual property cloud. Of course, IRC could have gotten a deal by reducing the price for cash now. But, they really do not need cash until this summer. So, if they have to do a cut rate deal they should be patient.
Finally, it is possible that the May analysis of preliminary Phase III Remune data could motivate fast track approval for Remune. On this scenario the stock price becomes a more attractive mechanism to fund short term cash requirements.
So, even as a short term investor, would you want IRC do do an unfavorable deal?
(By the way - a few of the really important press releases were on Friday's.)
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