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Biotech / Medical : Nortran Pharmaceutical -NRT.V

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To: AT7 who wrote (637)	5/10/1998 10:16:00 PM
From: Wisee	Read Replies (2) of 1185

AT7 I am hoping to address your concerns: 1) <<NTRDF has a large number of shares outstanding for a research biotech>> I don't think Nortran will be issuing any more shares for a long, long time. My guess is that it will have about $28 million in the treasury: Present position $ 6 million Recent financing $10 million Hoffman/Laroche $12 million (only a guess, 10% of total deal). 2) <<The stock only trades on Vancouver and BB exchanges>> I have stressed to Nortran the importance of getting onto the TSE, and I suspect a TSE listing within 60 days. On Thursday at the General Annual Meeting, I will ask management their timeline for a TSE listing. (I will post their answer on this thread). 3) <<Developing a pill to accomplish their goals seems optimistic given other competitors doing this type of research>>. I don't think the competition is concentrating on this type of research. If they were, why would one of the world's largest pharmaceutical co. Hoffman Laroche be willing to spend $125 million Can. on a licencing agreement with small, Vancouver based co. like Nortran??? Please remember, that this amount doesn't even include the HUGE costs of taking the drugs through the clinical trials. I suspect this complete Hoffman Laroche deal is worth over $250 million, when we factor in the costs of the trials. 4) <<Share dilution has gone from roughly 12.5 to 22.1 million shares in a short period of time. Those are low numbers that do not include fully diluted positions>>. Please see my comments on 1). 5) <<Testing outside of North America really has me scratching my head. Even if the drugs are successful, it's not like the news media here will pick things up without ALOT of help. However, if things go poorly no one will know>>. In the past, to SAVE money Nortran performed their trials in places like Brazil. However this Hoffman Laroche deal changes things. I suspect the important trials will take place in North America or in Europe. Everyone is doing their due diligence on Nortran. To me, Hoffman Laroche did my due diligence. This Hoffman Laroche deal was EXCELLENT for Nortran. When was the last time a VSE co. signed a big deal like this??? Wisee

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