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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: Don Cheng who wrote (242)12/15/1996 3:32:00 PM
From: Brad C. Dunlap   of 1762
 
Hi Don, your info is correct and the way it came over the wire was a bit confusing. What confused the issue is that SmithKline exercised the 400,000 warrants and converted them to stock. After SmithKline converted these warrants to common stock they then sold the 400000 sh of common stock in the open mkt. There was one press release that just mentoned the purchase[did not mention that they were converted from warrants] and failed to mention the sale. I bet Don didn't see the follow up release.
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