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Biotech / Medical : IMNR - Immune Response -- Ignore unavailable to you. Want to Upgrade?

To: John McCarthy who wrote (196)	12/26/1997 8:38:00 AM
From: Manny Gugliuzza	Read Replies (1) \| Respond to of 1510

time for a phone call to get some info on that john. 1.70 cash per share for the last quarter is probably not there now. but some reasoning stands to order. these larger companies that are with immune in these trials, especially with all the positive results so far, will not let this get away from them and i believe as has been mentioned before that some form of support will be short comming if they do indeed need cash >> for continued operations and future production of remune after fda approval. looking for another good rebound here in the continuing saga. probable large triangle is forming here at the end of this cup and handle chart. majority of the trading at the last shake out was at 10.5. this pull back is quicker and on even lower volume shows just a lack of buying not agressive selling. i see that the selling of shares occurs regularly from inside from time to time. it seems that it has been very light also during this last upswing. ar.

To: John McCarthy who wrote (196)	1/12/1998 8:39:00 AM
From: Harry D. Kramer	Read Replies (2) \| Respond to of 1510

John, sorry for taking a month to answer your post from December, but a combination of extended holidays and a lot of work after that kept me from spending time on SI threads. As I can see others have already dispeled your doubts. I agree with some of the arguments. When RPR dopped out of the HIV program in 1995, IMNR decided to go it alone as long as they can. Which means they own the commercialization rights to most of their important pipeline products in all major markets and that gives the company a very high leverage for its investors. On the other hand this means they have to do all the financing for their programs. With a current cash burn rate of approximately $30 million I think we are pretty close to what the company can bear. Either Remune is a success and we will see this in the 2nd quarter, or it's not the big success that we hope, then the company has to sell out on some of its other programs (psoriasis, RA, MS, cancer, ....). Even in the worst case, I wouldn't call the company broke. IMNR has a very nice, diversified portfolio of proprietary or in-licensed technologies and products and it can easily make this into cash if it needs to do so. Any marketing deal on Remune for major markets (Europe, ...) would bring in a huge upfront payment. However, I think a deal in another product area is more likely in the next few months. I remain bullish on IMNR. Today could easily be a buying opportunity as the Asian and European markets lead the trend lower for the overall market. Below $9 I may add to my position. Regards, Harry