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Biotech / Medical : Lidak Pharm. [LDAKA]
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To: Barry Rost who wrote ()12/22/1998 10:16:00 PM
From: David Meyer  Read Replies (1) of 1115
 
When IR returned my call today I was told that there will be a two page news release. AVNR is disappointed and upset that the FDA did not advise them earlier of their concerns as they could have been handled prior to now. They will be able to quickly handle whatever concerns the FDA has. The press release will have something positive in each paragraph. They did not receive approval but an action letter instead. Action letter means just that, they have to take some actions (jump through more hoops) to obtain final approval. From my conversation IMHO the action items are minor. Please DON'T PANIC and sell tomorrow. There is no sense in shooting yourself in the foot at this late date. Approval will happen soon.
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