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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (27799)	3/4/2000 4:17:00 PM
From: Softechie	Read Replies (1) \| Respond to of 56532

Max I'm retiring with AVNR. I have accumulated closer to 400K shares of this company. This should keep me busy for a very long time. CEO have been doing road shows with Reddington for last couple weeks and next week they have 3 more to do. Deal with Smithklein and Beecham is imminent in 2 weeks. This includes up front payment in millions of dollars. Moving from OTCBB hell to AMEX or NASDAQ depending on share price. They have enough cash in the bank for qualification but share price is holding it back. AMEX requires $3 and NASDAQ $4 for Small Cap. FDA to come back with Marketing Approval. Deadline date is 6/3. ALS and Anti-IgE drugs are in the pipeline. Some predict buyout from a major pharma at $6 but who knows. Here's another hint for you: Check around and see if you can find any biotech stocks that have got FDA Approvable status for OTC drug and still under $5 and let me know. ARNX don't even have NDA (New Drug Application) filed for their cancer cure drug. Don't let the hype got you. I guess it's (hype) relative when comparing with internet stocks. I'm taking Warren Buffett advice of investing in company you know best and I know Avanir good.

To: LTK007 who wrote (27799)	3/4/2000 4:35:00 PM
From: Softechie	Respond to of 56532

ARNX Read the events carefully before jumping in: On August 4, 1999, the FDA informed the Company that its invitation to us to discuss the Company's ATRAGEN(R) NDA filing at the Oncologic Drugs Advisory Committee, or ODAC, on September 17, 1999 had been withdrawn. The FDA cited deficiencies in our ATRAGEN(R) filing but did not specify at the time what those deficiencies are or how we might correct them. On September 24, 1999, the FDA provided the Company with an action letter citing the deficiencies in the Company's ATRAGEN(R) submission. While the FDA has cited such eficiencies, the FDA has not notified us of any safety issues associated with ATRAGEN(R). While no assurances can be given that the deficiencies can be resolved, management believes that we can effectively address the FDA issues, and we have already formally advised them of our intention to amend our filing. Additionally, we will meet with the FDA to address the issues they have raised and to ensure that these are effectively addressed in our amendment. Once we have had this meeting, we believe that we will be able to more clearly assess our revised timetable. I've learned my lessons with Avanir. My suggestion is if you can wait for another year or so then do it, if not don't. Good luck.