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Biotech / Medical : Antex Biologics (ANTX) -- Ignore unavailable to you. Want to Upgrade?

To: Mark F. Beno who wrote (666)	2/4/1998 11:55:00 AM
From: John R Resseger	Respond to of 1476

Terry did say that SKB ( Smith Kline Beechum) did have the rights to not continue funding further research by Antex. We know that they did, but it still bothered me that SKB didn't pay the $1M for the increased share of the JV. At my request Terry checked to see if a reason had been offered by SKB. Terry called me back a little while after our first conversation. She had asked somebody about the SKB option thing. This is what she told me Smith Kline Beechum asked Antex what they wanted done as far as the option. Antex said, we would prefer that you not exercise the option, we don't really need the money at this point. SKB said fine, we won't exercise, if this is what you want. I had sold most of what I had based on SKB's non-exercise of the option. I have since bought back in, and I have an order to buy in at 15/16th. I also expressed my fears that Blair was shorting. She said it was unlikely.