PARS new outside IR firm has quite an exciting client list.
Ruder Finn has upwards of 400 employees and extensive experience in the health care field. See the client list for health care, noting prestigious firms like Novartis, Pfizer, etc. ruderfinn.com
Note Ruder Finn's role in the merger that made Novartis the giant that it is today: <<When Sandoz and Ciba-Geigy came together last year in what observers call the largest corporate merger in history, Ruder-Finn's Kathy Bloomgarden enjoyed a role in the planning and communication of the deal's details that ought to be the envy of every strategic PR counselor... >> prcentral.com
Note its role even with "young" biotech firms: (see small print at bottom) biz.yahoo.com
In other words Ruder Finn has the background to help us find a good co-sponsor for HU-211 and to put us on the map in the investment world. If I ran an emerging pharmaceutical company, I sure would want them aboard if I thought happy news was coming soon.
As for PARS shares themselves, I was a buyer this week, taking advantage of the softness caused by the general market downturn and two items specific to PARS: 1) a misunderstanding about the FDA announcements concerning tamoxifen for Genentech (GNE) and Zeneca (ZEN), whose stocks temporarily zoomed up on the news; 2) rumors about the contents of an S-3 SEC document that eventually got released on Friday, which registered for sale in the future up to 3 million common shares. The first event probably made some people erroneously conclude that we had lost part of our drug pipeline; the second probably made people erroneously conclude (until the actual document was released) that another Castle Creek-type stock deal might be in the works.
For the record, just because other companies are selling tamoxifen doesn't put us out of the running in that market; and the new S-3, although it would represent some dilution, has better terms than the convertible preferreds we've done and indicates our capable CFO is already prepared to fund those months in 1999 when we might need cash before the revenue stream from Alrex and Lotemax cover the cash burn rate.
I am very excited about the new Investor Relations firm. Hiring them just before the release of HU-211 results and the annual meeting hints rather strongly that the company (properly frugal most of the time) believes near-term news will be worth the expense involved in this new relationship.
--Ariella |
