g'day all - just received the annual report over the weekend, from what I can gather, IMUL is not as bleak as it has appeared.
A few perceptual hi-lite:
1. as I ve suspected, while it has discontinued ALLERVAX pgms, it is trying to leverage its patent portfolio. 71 for the US and 36 worldwide [don't ask me what they are or if they worth anything <g>
2. As all of us know, Coke Vaccine is in Phase I, but Nicotine Vaccine is in preclinical phase.
3. Now, this is new to me: on page 2, under Corporate Partnerships and Collaborations.
In May 1998, the Company entered into an agreement to license on a non-exclusive basis Immulogic's patent estate around the Japanese cedar recombinant proteins. This agreement provide for a licensing fee amd certain milestone payments and royalties. In addition, the Company has ongoing discussions with other potential partners..."
Does anyone know more about the license deal?
Finally, while investing in IMUL is still an iffy proposition, it has reduced headcounts from 155 to 27. Also, it has $50MM cash, which, according to the annual report, is sufficient to maintain operation until 2000. Therefore, there should not be any risk of delisting or of stock dilution - or worse, issuance of highly risky debt instrument.
addendum:
as found the recombinant protein deal [and I had to ask <g>]
biz.yahoo.com
Best, B |
