NIFTY NINE IN NINETY NINE PLUS ONE Message Board

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Non-Tech : NIFTY NINE IN NINETY NINE PLUS ONE

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To: Steve Lokness who wrote (130)	1/14/1999 3:57:00 PM
From: Scott H. Davis	Read Replies (2) of 613

That's why I'm a little nervous about TTP. Glad Novartis is picking up all the Phase III expenses, but I don't see much chance of revenue this year other than milestones. While a buyout may be possible, any big pharmas considering buying out partners would be aware of the liquidity issue and therefore probably willing to wait for fire sale prices. VICL has a good cash position, and due to a lot of milestones, has a low burn rate. ISIP has an approval which will generate a little cash, while still getting other milestone & research collaboration payments. They got some financing fall 97 while they still had cash (I think they got a modest premium to the market) that some ISIP threadsters questioned. Looks like it was a good move. Scott

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