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Biotech / Medical : Micrologix biotech

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To: Taff who wrote (496)	5/15/1999 11:11:00 AM
From: Carter Berezay	Read Replies (1) of 792

Thanks Taff, Yorkton worries me. They have a lot of MBI shares in their hands. I would guesstimate that 89,000 share cross went into their house account as inventory. They sure got it cheap at $2.15/share! MBI's price has held up well considering there is no news to speak of from the company. From an efficiency standpoint MBI has had to go into a holding pattern now. They can't do anything any more until they refill the moneybin. At that time we'll see them go into hyper speed with Phase II for 226 and further phase I's for their other drug candidates, ocular and acne. I think they'll qualify for speeded-up testing of 226 (whatever the term is) because blood poisoning is life threatening. You can have the best product in the world but it is money that drives its development and subsequent marketing. It is MONEY, MONEY, MONEY... As Checkmate aptly asked, "Why is no pharmaceutical company investing in MBI?" This may be behind the 150,000 share dump a couple of days ago. Investors are worried because of that question and may be ready to dump any chance they get. If there is no pharma wanting to invest there are lots of ways to get R+D money. As a backup I can see MBI selling off shares to various institutions (or a private placement) to raise the money they need to continue the development of their drug candidates. The next thing we'll hear from MBI is a financing deal!!! There is nothing they can announce that would help the price move up until they can afford to make it happen. Even the announcement of what their "secret" drug is wouldn't move the price up much until they have a plan in place to make it happen. Hang in there. What's another few months? If they don't have a deal by August I'll let you add me to the worried list. Carter B.

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