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Biotech / Medical : Immunomedics (IMMU) -- Ignore unavailable to you. Want to Upgrade?

To: kitty2 who wrote (329)	1/6/2005 8:57:08 PM
From: erickerickson	Read Replies (2) \| Respond to of 371

So, like, how should Idaho know? He's not a company officer. Sorry, couldn't resist <G>... The short answer is "They won't unless they get financing". They've publicly stated that they're actively shopping around for a partner and have retained Lazard to help. Meanwhile, I believe that they're going forward while negotiating with a potential partner. This makes sense to me, since it wouldn't be a good thing to put PIII on hold waiting for a partner. I can't help but believe that the FDA granting fast track was an important thing to get done before a partner got on board. I've got to assume that they can negotiate a better deal with fast-track in hand than they would have without. All this is speculation on my part, so take it for what it's worth. I don't think they've ever thought they were going to go it alone through PIII, and various statements by the company indicate the same. However, after the AMGN fiasco, I can see them being very careful about how a partnership is structured. I believe that your question may be the reason the street has been so lukewarm to the fast track designation. IMMU has not had a stellar record (little understatement there) for working with partners. I suspect that announcing a new partner will go a long way towards shrinking the "credibility gap" that IMMU has. I'm expecting that they will have a new partner in the relatively near future for the Lupus PIII, but wouldn't hazard a guess as to when that would be since my record for predicting time-frames is, shall we say, poor. Anyway, the really short answer is that they either have to get a partner or alternate financing to carry through PIII and bring the drug to market. My preference is that they'll get a partner, and I hope it's soon. Tomorrow would be good <G>. Best Erick