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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (3445)10/2/1998 11:15:00 PM
From: TRIIBoy   of 18998
 
Mr. Pink,

Your loyal servant has brought you a sacrificial company to your altar, I hope it is worth your pinkishness...

Immunex (NASDAQ: IMNX)

1)in the next two to three weeks estimates will go down from positive EPS of anywhere from $0.50 to $0.90 to losses.

2)Enbrel drug, which is the big drug company is basing current fortunes on, got a harsh review in FDA review panel in September, very restrictive labelling

3)company needs financing, analysts keeping it above water for juicy secondary

4)FDA has manufacturing concerns, possibility of a delay in November.

5)market cap does not justify the puny 15% margins it could get from Enbrel
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