Well IMUL is going the distribute to shareholders route. I'm a little surprised that another biotech didn't pick them up to try to use their NOL, but this route should be good enough for shareholders as well. By my estimation (but be sure to do your own DD - I've looked at this only superficially) they have over $2 in cash per share, plus rights to assorted milestones and royalty payments if any of their licensed-out products work out.
I picked up some more in the 1 5/8 and 1 11/16 range this morning.
Here's an earlier post on them:
Message 6927810
And here's today's release:
Headline: ImmuLogic Announces Intention to Distribute Assets to Shareholders
======================================================================
WALTHAM, Mass., Feb. 8 /PRNewswire/ -- ImmuLogic Pharmaceutical
Corporation (NASDAQ:IMUL) announced today that its Board of Directors has
decided to conclude the business activities of the Company as soon as
practicable. The management and the Board of Directors of the Company are
currently preparing a plan designed to maximize distributions of the Company's
assets to its stockholders. The Company expects that implementation of this
plan will require stockholder approval and currently anticipates providing
details regarding the plan during the first quarter of 1999.
ImmuLogic Pharmaceutical Corporation is a biopharmaceutical company
located in Waltham, Massachusetts. The Company's press releases are available
through Company News on Call by fax at 800-758-5804, ext. 114501, and on the
Internet at www.prnewswire.com.
This press release contains forward-looking statements that involve a
number of risks and uncertainties, including risks and uncertainties that
relate to restructuring of the Company's business, assets or liabilities, and
the other risk factors detailed in the Company's Annual Report on Form 10-K
for the year ended December 31, 1997.
SOURCE ImmuLogic Pharmaceutical Corporation
-0- 02/08/99
/CONTACT: Investor Relations of ImmuLogic Pharmaceutical Corporation,
781-466-6000/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 114501/
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