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Biotech / Medical : Advanced Viral Research CP (ADVR)

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To: Richard Phillips who wrote (2042)1/15/1997 6:38:00 PM
From: Mark Chavez   of 2281
 
To all -

Some on the thread have been brutal, however, try to look at everything objectively. Until ADVR has a solid plan to obtain FDA approval, IMO it is better to sit on the sidelines and wait. Past problems aside, reticulose will be a tough product to push through because the active ingredient(s) is(are) not known (protein-nucleic acid formulation). Thus, in a stability study any change within the solution would constitute instability. It's not good enough to state that it is stable, you must prove it. Also, without knowing the active ingredient(s) it is almost impossible to follow the metabolic pathway of the product. FDA likes to know these things and a lot more.

Unfortunately, since ADVR has already gotten toasted by the FDA and by a major publication (Barron's), any submission made by ADVR to the FDA in the future will probably be met with a fine toothed comb. This along with an inexperienced CEO who has apparently done little so far, poor manangement record in the past, limited capital assets, and competition moving forward and faster make ADVR a very risky issue right now. Good luck, Hirschman may come through after all, but I'm off to other investing pastures...

Mark.

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