Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: IRWIN JAMES FRANKEL who wrote (1841)	1/20/2002 9:15:26 AM
From: Labrador	Respond to of 2515

IMCLONE is the ENRON of Biotechs

To: IRWIN JAMES FRANKEL who wrote (1841)	1/20/2002 2:10:37 PM
From: LTK007	Read Replies (1) \| Respond to of 2515

i have been reading about the Waksal brothers and it is very eye-popping.These guys are dedicated to themselves only,this stock will crumble to zero. C225 simply isn't what they claim. They did not do the test that the FDA requested be done in August but they wouldn't dare to do REAL science. It was NOT an oversight by Imclone it was rank avoidance. Imagine the FDA wanted to know how the chemo they were using with C225 would do without C225---the gall of the FDA to demand such a test--NOT! it was basic science and IMCL blatantly avoided such a testing. Imclone's "shock" at not passing with FDA was so much BS,they knew damned well they would be refused--had to,the August missile from FDA told IMCL what they had to do and they didn't do it---ask yourself why?? max p.s. i suspect they swindled BMY --but on the Yahoo! LOL! they are saying this a plot by BMY to steal C225 from IMCL.

To: IRWIN JAMES FRANKEL who wrote (1841)	1/21/2002 11:39:19 PM
From: 613	Read Replies (1) \| Respond to of 2515

Valuation - scenario: 1. If the contents of the RTF printed by the Cancer Letter is now 'confirmed', the lawyers are going to have a field day with this one, the Waksals will be hit very hard by the SEC (I wouldn't discount jail time) and the company will be in disarray. 2. There is no way that Erbitux gets approved now without another trial because there will be so much doubt cast on the existing data and the process. The reputation of the researchers is now mostly irrelevant due to the other larger political issues. Congress want to look like it interfered to get it approved. 3. So BMY has to come in a buy out the company (who else will when BMY already has 20%, but maybe). They aren't going to shell out too much more on this with all the years of litigation ahead, so they'll pick up the rest in a sweet deal - maybe another billion after the lawyers get their cut. Which would make the current evaluation around $10. What do you think?

To: IRWIN JAMES FRANKEL who wrote (1841)	2/5/2002 9:35:14 PM
From: IRWIN JAMES FRANKEL	Respond to of 2515

BMY today made it public that they are not looking for litigation but rather to work together with IMCL to bring Erbitux to market. They want to manage the process - duh. That to me is a no brainer. They have a huge stake and the experience to move the drug through the FDA. The Waksals stepping down may even be helpful in dealing with the FDA. As a temporary move that should be acceptable to Waksals and could help get them out of this mess and leave them with a great company to return to once the drug is approved. I do doubt that the threat of BMY walking is genuine. They are flexing their muscle and by raising the possibility that they would walk, gain the leverage to get a deal done. I am confident that a deal can be done. If the deal does not get done it will be over egos and personalities. Odds are that BMY and IMCL will find a way to work toward the mutually beneficial goal of getting Erbitux approved. Both parties have too much to lose by not working out the details. JMHO ij