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Biotech / Medical : InterMune (nasdaq)ITMN -- Ignore unavailable to you. Want to Upgrade?

To: Biotech Jim who wrote (502)	11/6/2013 3:40:43 PM
From: ghmm	Respond to of 508

I still have a position in ITMN though its not as big as it once was. I think their high burn/multiple finances have taken a big chunk of the upside away. I really think they've done a poor job with the EU launch. I expected more of a gradual ramp but didn't expect such issues with reimbursement and more so a long launch process. I don't have a guess at where their share price will stabilize but if one looks at when they've raised money they've usually done so at some of the worst times (granted in hindsight). I don't know if its Welch's call or Hodgman but I do seem to recall that under the prior CFO raising money was generally at better times. On the pirfenidone front I think the FDA pretty much has to give them approval if they hit on FVC and survival is trending (when pulled with prior CAPACITY studies). The panel seemed to focus on the acceptance of a 10% decline in FVC is it meaningful or not and I think the consensus was Yes it is and it seems that is the end point of choice in IPF studies now. I'm biased so my speculation on whether they hit or not is probably meaningless :-)