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Biotech / Medical : Insite Vision Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Mammon who wrote (881)	11/7/1998 8:38:00 PM
From: Todd	Read Replies (1) \| Respond to of 1060

I sure wish we knew what kind of deals ISV has on the table, Because I have a feeling the company's that there dealing with know of there cash position, and I think they may just string them along, and as time goes on ISV gets less and less of an offer. I have a hard time figuring out why ISV started there phase II trials on ISV-205 this past summer; I would have waited till I had a deal before I laid out all the money for the trials. They could have lasted much longer. Please someone prove me wrong! I still hold ISV and think they have some great stuff. But if they can't get a deal to market it, go wonder? Please forgive me for the babbling, Im just tired and laying out my thoughts. Todd

To: Mammon who wrote (881)	11/8/1998 1:14:00 PM
From: Robert Mayo	Read Replies (1) \| Respond to of 1060

I've held this stock for three years. I originally bought it because Insite had successfully taken three products through Phase III trials. Three. While "slam dunk" is never a phrase that can easily be applied to a biotech, Insite looked close. Now, three years later, not one of those products has been approved by the FDA, let alone seen the inside of a drug store. In retrospect, that should have been a warning. After the intial enthusiasm had worn off, just as I was about to pull the plug on what looked like a poor investment, Insite gained the rights to some genes associated with primary open angle glaucoma, then congenital glaucoma, and I decided to stick with it. Since then, we've had a test kit developed too_but no deal with a major pharma or lab to get the thing to market. We've had plenty of dilution, however, as the company raised cash to keep going. As time had marched-on, I've had to keep asking myself whether hanging-on to ISV is a triumph of hope over experience. Maybe. I'm tired of the deal that never seems to come, of bad info and/or missed deadlines, of dilution and, most of all, of the opportunity costs associated with holding this stock. My frustration is showing I suppose. I've never questioned Insite's technology. FWIW, I still think that timed-release eye medication is a good idea. And the test kit ought to be worth a bundle. It's unclear at this point whether Insite can really negotiate a great deal. I doubt it. They're running out of cash and are likely to have to take what's on the table or dilute again. I hope I'm wrong, that they'll get a nice up-front payment and lucrative royalty arrangement. But I'm not holding my breath, not with their history. What leverage do they have to get someone to sweeten the deal? The technology? They've had that for, what, eighteen months? Now they're running out of money, which just complicates things. I haven't sold yet. Nor do I plan to in the immediate future. But I won't finish the year with it in my portfolio either. Enough is enough. Bob