I posted a three part message on the YAHOO message board, and it has generated some interesting discussion. I will copy it here, and hope for more of the same.
HORSESHOE98
Apr 1 1998
8:54PM EST
By way of introduction, I have been a shareholder of IMNR for two years. I have done extensive due diligence as I have built my position which represents a seven figure investment. I speak to experts in the biotech/medical field, and have visited the Company and met management. However, I do not have access to inside information. I have a sizeable group of investors and brokers with whom I share research.
I think that a lot of the people on this thread have lost sight of the big picture. Because of a focus on awaiting
announcements of collaborative agreements, shareholders have overlooked the good news that the Company has announced in the last three
months. Visit the Company's home page at www.imnr.com and take a look at the milestones. This is not a company that is standing
still. The recent release on the successful international defense of the autoimmune disease patents has major positive implications
for the Company. As I understand it, the breadth and depth of the patents was the reason for the challenge. The challenging
pharmaceutical corporations recognized the value of the patents, and therefore spent the money to fight them. I see this as a ringing
endorsement by knowledgeable sources. It has been estimated that IR 501 (for RA) can be a billion-dollar product. The potential for
psoriasis treatment may be bigger yet.
It seems that investors are disappointed that the collaborative agreements were not announced by quarter's end, and now
question whether they are coming at all. I am confident that they are coming, but was never comfortable with pinning my hopes on a
specific deadline. Unfortunately Immune Response is not in the drivers seat on the timing of these deals. However, I don't think they
would have launched a Phase II B RA trial if they were not confident of closing them. Large international corporations move at
their own pace. As someone else mentioned, almost six months elapsed from the time the Bayer deal look imminent until it was
announced.
(continued)
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