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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Rudy Saucillo who wrote (1252)	7/7/1998 5:06:00 PM
From: Zvi Yammer	Read Replies (1) \| Respond to of 2742

Rudy; And to continue. Cistron will have 300,000 per year to continue the research. Plus the 1.3 million This is not as a NEW drug trial, it is as an adjuvant. Which means the IL-1 is added to the process of mfgr. the drug. I do not believe that clinical trials will be as drawn out as would be for a true New Drug Application. Basically, I would assume that based on the Novavax trials the IL1 has a basis for minimal toxicity. RP should go directly to human trials after an agreed upon flu "cocktail" has been stirred up. What about Novavax. Picked up a few since I think this will be related.

To: Rudy Saucillo who wrote (1252)	7/8/1998 9:13:00 AM
From: Dr. John M. de Castro	Read Replies (1) \| Respond to of 2742

The selloff should not have been such a surprise given: 1) The former chairmans shares needing to be sold 2) The deal is only a letter of intent and not a done deal. These things can and do fall apart. 3) The deal is surprisingly weak. CIST and Bluestone did not appear to get very favorable terms. CIST is getting next to nothing up front and if the option isn't exercised could end up with nothing from the whole deal. In the meantime, their hands are tied from pursuing other deals in this area. 4) The .75 price paid for the equity investment, indicates a perceived market value around .6 and this is where the selloff began. 5) There a lot of pent up profit taking potential. All in all this is nice to see meaningful progress from management. However, this looks like a deal cut from a position of weakness and not from a company with lock solid patents and a strong cash position. John de C