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Biotech / Medical : Alliance Pharmaceutical -- Ignore unavailable to you. Want to Upgrade?

To: Joinvestor who wrote (355)	5/14/1999 11:27:00 AM
From: mannyj	Read Replies (1) \| Respond to of 548

from the volume , i think the price will be more the $4.they need enough money to last more than i year unless they get a new partners to pump money.

To: Joinvestor who wrote (355)	5/14/1999 1:24:00 PM
From: Alok Sinha	Read Replies (2) \| Respond to of 548

Alliance is on a road show with its investment banker talking to institutional clients. The secondary placement is expected in the next couple of weeks (they are waiting for clearance from SEC). I spoke with the one of the bankers who worked on the due diligence. He indicated that interest in the secondary offering is quite high, and did not foresee any problems in placing up to 10 MM shares. So the immediate cash crunch will be alleviated. The recent run-up on good volume is due to (IMO) Imagent results, and increased investor interest from the road show. Incidentally Cruttenden Roth may come out with a research note after the placement is done (that may support the price in the 3-4 range for sometime). The risk in my opinion is if they are not able to pick up a partner for Oxygent before the year is out. Given that trial expenses related to Imagent are over, the burn rate should come down some (that may be offset whenever US trials of Oxygent start - I am beginning to wondor if the delay in starting the Oxygent trials is related to being short of cash. The stated reason is that they are finalizing the protocol with the FDA). In any case, they will probably sell their technology / patents before they run out of cash (and that should be worth more than 3 bucks.) The fact that Fidelty continues to hold about a major stake is comforting. Regards Alok