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Biotech / Medical : Insite Vision Inc.
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To: Awashonks who wrote (845)9/21/1998 7:21:00 PM
From: Awashonks  Read Replies (2) of 1060
 
Recent conversation with Mike Baer, CFO of Insite...

Below is a summary of a conversation I had with Mike Baer last week. Not only did he return my call within minutes, it was very positive and his tone was confident, although for obvious reasons he couldn't release specific info about the deal.

I believe that it is a very complicated deal, perhaps involving ISV 205 too (??), and that the final details are being worked out as we speak. Today's press release was a clear attempt to prop up the stock in this volatile market and reassure investors that the opportunity hasn't changed. Good Luck to ISV longs, we've been waiting for this a long time. I hope the deal is a doozy. Awashonks.

So here is a recap of my conversation.

Is the test kit technology complete and ready to go?

Yes

Is Paine Webber still helping you evaluate deals/partnerships for ISV?

Yes.

Is a deal on the test kit imminent? Before the end of the year?

I'll tell you what I've told everyone else. It takes approximately 12 months to do a biotech deal and we've been working on it 12 months.

Do you expect closure on the deal soon?

Yes. I am not saying this month or next month. You cannot be completely sure until the deal is signed.

Are you confident that the deal will be completed?

Yes.

Will you be able to do the deal before the money runs out?

Yes. That's why I am not raising any money.
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