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 : VICL (Vical Labs) -- Ignore unavailable to you. Want to Upgrade?

To: William Strop who wrote (425)	11/6/1997 9:47:00 PM
From: A.J. Mullen	Read Replies (1) \| Respond to of 1972

Bill, I was one who sold recently, having held for at least three years. Nothing had seemed to have happened for over a year, then there was the new agreement for Merck, which I read less positively than others on this thread. I suspected the premium was simply that necessary to compensate for the dilution of the new shares. If so, Merck were getting their rights as a 'free bonus' for purchasing the shares. Clearly I was wrong. The dilution it turns out is small, much less than 25%. If the premium at been presented as an upfront payment of $1.2 M, I would have been more impressed. Nevertheless, if you get the profile of Vical through Yahoo, you will see their revenues have declined 50% due to reduced payments from Merck. I'm not sure if the new agreement will restore that decline.