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Biotech / Medical : Matritech (NASDAQ - NMPS) -- Ignore unavailable to you. Want to Upgrade?

To: Wesley0428 who wrote (572)	2/18/1998 2:31:00 PM
From: William J. Leiby	Read Replies (1) \| Respond to of 849

Wesley: Thanks for the report. But, I have to admit I am somewhat disappointed. I had a conversation with someone in the company back in the fall in which it was noted that if they didn't get approval for NuMa within the first qtr, THEY would be disappointed. (Did management speak of NuMa' acceptance and the market in Europe)? In that conversation, it was also suggested to me that the idea of NMP-22 as a screening tool was on the back burner. Looks like strategy and plans may be a bit more fluid that I perceived. As far as the cervical test, it seems it will not have the significance I was hoping for. The area where I'm most disappointed is the breast test. A report I read back in November indicated that clinical trials were scheduled to begin this year and that sales of this test would commence in Europe at the end of this year! If the report is true then the co. must have started the preclinical trials or they're ready to go. How long should the preclinical take? Someone cheer me up. Regards, Bill

To: Wesley0428 who wrote (572)	2/18/1998 6:25:00 PM
From: John McCarthy	Respond to of 849

Wesley - Thanks much for the info. With respect to the Colon stuff: 1 - We have $11.0 mil. in Cash right now. 2 - We use up $2.0 mil. a Qtr. Note:The $2.0 excludes any serious clinical money for breast/prostate clinical stuff. 3 - If the Colon kit doesn't ship until late 3rd/early 4th qtr. our cash position vs. our needs is going to be a bit tacky but we should be Okay. $11.0 - $6.0 = $5.0 (and we still have to finance the inventory build on the colon stuff) + pay for the breast/prostate incremental clinical costs. 4 - I concede to Bill, but only this far: 98 Bladder Sales = $1.6 mil. (Recall I had said $ -0-) of which we only collect $1.2 mil. in 98. These monies are an add back to our cash level. 5 - Just wish we had more sales. Regards, John