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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (21577)	10/24/2000 7:50:05 PM
From: Sergio H	Read Replies (3) \| Respond to of 29382

Ken, SNAP has enough cash to keep them going for a while longer and no debt. The increased burn is due to the pending law suit against Panlabs. Don't understand enough about what SNAP does to comment more than that. I'll be missing from SI for the rest of the week. I'll catch up with y'all in a few days. Kick some butt Amigos!!! Sergio

To: Ken W who wrote (21577)	10/24/2000 8:33:04 PM
From: Ken W	Respond to of 29382

Larry, From the 10K of SNAP: The Company's human receptor-targeted drug design technology is being utilized or has been utilized in a number of different research and drug discovery programs. Some of these programs are currently being conducted by the Company independently. Others may have been conducted by the Company independently or in collaboration with pharmaceutical companies but are currently inactive and available for licensing by the Company. Finally, some of the programs are being conducted by the Company in joint research programs with its collaborative partners or by the Company's licensees. Total operating expenses incurred by the Company for each of the fiscal years 1999, 1998 and 1997 were $19,652,000, $19,576,000 and $17,853,000, respectively, of which approximately $1,759,000, $7,182,000 and $9,785,000, respectively, was funded by the Company's collaborative partners during such years. In 1998, the Company increased its internal research and development spending in part as a result of the expiration of its collaboration with Novartis and the termination of the associated research funding provided by Novartis. The Company again increased internal research and development spending during 1999, in part as a result of the July 31, 1999 expiration of its collaboration with Lilly and the termination of the associated research funding provided by Lilly and the February 28, 1999 expiration of its collaboration with Merck and the termination of the associated research funding provided by Merck. They only have one partner left Grunenthal (sp) and they are not providing any funding.