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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Liebman who wrote (183)	5/4/1998 12:30:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 579

Larry: A very interesting question. I had owned GILD since the day that I initially bought AGPH, and it was hard to sell. However, I decided to move that money to a very high-risk play in influenza.... an unknown, potential competitor to GILD. Fun stuff. I have always had huge respect for the Oklahoma Medical Research Foundation, and this company is ass'd with them. ARQL.... while I still have all my shares, I'm really ticked at Hogan. He's taken multiple millions out before getting the job done. Let's see him hold some shares now, let's see him do a bit of class act from this point out and let the remainder of his shares ride with his shareholders. I have big problems with weenie managers. Not to imply that this is applicable in this case, but any more selling will put him in that category, IMO. PDLI.... I have no opinion, positive or negative. I note that they are headed in a new direction, small molecules, with the Stanford/Falkow collaboration. I feel that this is wise. Hey! Congrats on your ENMD. Rick

To: Larry Liebman who wrote (183)	5/12/1998 8:52:00 PM
From: scaram(o)uche	Respond to of 579

The royalty was purchased down in '95, but some is better than none! From the last SIBI 10-K...... In October 1991, the Company entered into a development and option-to-license agreement with Cephalon, Inc. ("Cephalon") for certain proprietary technology related to the development and production of recombinant insulin-like growth factor ("IGF-1"), known as Myotrophin, on a commercial basis for certain applications. The option-to-license was subsequently expanded to include additional applications. All options-to-license the IGF-1 technology were exercised and the license agreements, as executed, include a provision for the payment of licensing fees upon the occurrence of certain development milestones and royalties on the sales of products using licensed technology.