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Biotech / Medical : IMNR - Immune Response
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To: Peter Singleton who wrote (770)7/2/1998 10:31:00 PM
From: Don Hurst  Read Replies (1) of 1510
 
Peter, you are right about the option premium anomaly and stock price. I was around the IMNR world back in 93 when the other big AIDS
conference occurred. At that time Salk was still alive and there was a lot of IMNR hype about his vaccine just prior to the conference. At that time it was not yet called Remune. Just before the conference the stock started to jump from the teens to close to 30 if my memory is accurate. It had a peak day just like last Thursday but a bigger point jump. Then it settled back to about 19, 20 just before the IMNR pitch at the conference and immediately after the news the stock jumped a couple of points for a few minutes and then the stock dropped to about 16 and, most IMPORTANTLY, the out of the money options lost all their premium immediately. I am not sure how much time value was left but I think they had a couple of weeks left.

I was really surprised to see the July 17.5s and even 20s still have premium at the end of today. The 17.5s went to 1/4 and even came back a little at the end. Clearly the AGPH influence is different this time and Remune is actually in Phase 2 but something else may be up.

Probably on Monday we will find out that we dreamers from this thread and the Yahoo one provided the premium based on the hype coming from
from both threads.

Regards,

Don
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