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Biotech / Medical : IMNR - Immune Response

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To: Nagaraju R. Arakotaram who wrote ()4/5/1998 5:59:00 PM
From: BLUE HORSE SHOE   of 1510
 
Part 3
HORSESHOE98
Apr 1 1998
9:04PM EST
Unfortunately I think that many long time shareholders are getting "bored out" of the stock just as it is on the verge of
reflecting a more realistic valuation. This is not a one product company, in addition to HIV, it addresses several other
multi-million-even billion-dollar markets. About 25% of the stock is held by institutions--funds with value based criteria are some of the
biggest holders. Often stocks will go up on rumor and sell off on news. I do not think that IMNR will follow that pattern. I
personally know of a number of large investors who are waiting for the first collaborative announcement before taking a position in the
stock. I expect that this is also true for some of the institutional investors. Someone suggested that the recent 10K may be behind
today's weakness. I have read most of the document. As is usual, the Company has lots of caveats and has gone out of its way to
discourage expectations. Certainly no one can accuse them of building false hopes!

Everyone needs to do his/her own due diligence, but I am excited about developments coming over the next few months and will continue to hold. I expect that there will be lots to talk about at the annual meeting on June 11. I really believe that this Company has the potential to change the standard of health care in a number of arenas,

Note--I am sorry for the choppy posts--I prepared my comments without realizing that Yahoo has a limit on length.
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