By: richardlia
04 Feb 2004, 07:15 AM EST
Msg. 137649 of 137725
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January 2004

TOUR OF COMPANY HEADQUARTERS

The first shareholder tour of Advanced Viral Research Corp.'s Yonkers, NY facilities was held on January 21, 2004. Attendees were provided a slide-show on the company's research, manufacturing, intellectual property portfolio and regulatory issues. This was followed by a walk-through tour of the laboratories and manufacturing areas. Mr. Eli Wilner, CEO, and the company staff then answered a number of questions and received shareholder comments in what proved to be a very fruitful two-way session.

LEADERS MAGAZINE PROFILES ADVANCED VIRAL RESEARCH CORP.

An interview with Eli Wilner, Chairman and interim CEO of Advanced Viral Research Corp. and Dr. James D'Olimpio, the company's «Spokesperson-at-Large» was published by Leaders magazine in their January/February 2004 issue. The interview featured a detailed discussion with Dr. D'Olimpio on the company's product, AVR 118 and its role in treating AIDS-related cachexia. Mr. Wilner addressed the manufacture and approval process for the drug, the patent protection on AVR118, its stability and the potential investment opportunity. Leaders magazine is circulated among top company executives such as CEOs, CFOs, CIOs and the investment community.

MEDIA COVERAGE OF AVR118

The company's drug candidate AVR118 was featured in a news segment broadcast on Channel 8 in Austin, Texas on January 7. The news clip dealt with the problem of the wasting syndrome or cachexia seen in AIDS patients and featured a short interview with Dr. D'Olimpio. While other drugs such as human drug hormone have proved effective in mitigating the body wasting, they are expensive and have undesirable side-effects. The report pointed out that the company's investigational drug AVR118, on the other hand, has not shown toxic side-effects in patients in clinical trials and is relatively inexpensive to manufacture. Channel 8 is a news channel affiliate of the local cable network in Austin.

AWARD OF US PATENT ON TREATMENT OF HUMAN PAPILLOMAVIRUS

Advanced Viral Research Corp. has been awarded a United States Patent, No. 6,670,118 entitled «Method for Treating Papillomavirus Infections». The patent describes the use of AVR118 for the topical treatment of patient suffering with lesions resulting from human papillomavirus (HPV) infections, including genital warts.

ADVR has completed a Phase I clinical trial in the U.S. to evaluate the safety of the topical application of AVR118 in healthy volunteers. There were no local adverse reactions to the application of AVR118 to the skin in these subjects. The company is now planning Phase II trials for the topical use of AVR118.

ADVR TO PRESENT SCIENTIFIC PAPER AT INTERNATIONAL CANCER CONFERENCE

Dr. James D'Olimpio, Spokesman-at-large for ADVR is to present a paper entitled «Use of a Peptide Nucleic Acid in Cancer Regulation and Metastasis: A Preliminary Report of Bimodal Effects in Vitro». The paper is to be presented at the 1st ISC Conference on Cancer Chemotherapeutics-Molecular Targets, Pharmacology and Clinical Applications, which will take place in Florence, Italy from February 19-21, 2004. The conference is meant to provide a forum for the dissemination of the latest knowledge in the field of anticancer drug research and development, and is jointly sponsored by the International Society of Chemotherapy and the Societ Italiana di Chemioterapia. Dr. DOlimpio will be presenting the results of scientific research spearheaded and conducted by the companys scientists, Dr. Maribel deDiego and Dr. Sharon Malia on the effects of AVR118 against tumor cell lines in vitro.

Eli Wilner
Chairman and Interim CEO

 

 

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Press Release Source: Advanced Viral Research Corp.

ADVR Secures $12 Million Financing
Wednesday February 4, 7:31 am ET

 

YONKERS, N.Y., Feb. 4 /PRNewswire-FirstCall/ -- Advanced Viral Research Corp. (OTC Bulletin Board: ADVR - News) today announced that it entered into an agreement with James Dicke II and his son James Dicke III whereby ADVR shall sell to the two purchasers an aggregate of (i) 120,000,000 shares of its Common Stock; and (ii) warrants to purchase 15,000,000 shares of its Common Stock at a purchase price of $0.20 per share, for an aggregate purchase price of $12 million. The funding shall take place in four equal stages of $3 million each, once every 90 days with the first $3 million funding to occur February 5, 2004. Mr. Dicke is the Chairman and CEO of Crown Equipment Corporation and a former member of the Board of Directors of Advanced Viral.

Advanced Viral shall use the proceeds from the funding to fund clinical trials of its drug AVR 118. ADVR has completed a Phase I clinical trial in the U.S. to evaluate the safety of the topical application of AVR118 in healthy volunteers. There were no local adverse reactions to the application of AVR118 to the skin of these subjects. The recent funding will allow ADVR to plan a Phase II trial for the topical use of AVR118.

"I am pleased that with this funding, we can pursue our clinical trials in both Israel and the United States," said Eli Wilner, Chairman of the Board of ADVR.

ADVR's AVR118 represents a biopolymer chemistry that possesses novel immunomodulator activity. This peptide-nucleic acid, which to date has shown no indication of human toxicity, appears to stimulate the proinflammatory responses required to combat viral infections such as AIDS and human papillomavirus (HPV) and to dampen aberrant autoimmune-type inflammatory responses, such as occur in patients with rheumatoid arthritis. AVR118 is in clinical trials in Israel for the treatment of cachexia (body wasting) in patients with AIDS.

For further information regarding Advanced Viral Research Corp., please visit our website at www.adviral.com. Advanced Viral Research Corp., based in Yonkers, New York, is a biopharmaceutical firm dedicated to improving patients' lives by researching, developing and bringing to market new and effective therapies for viral and other diseases.

Note: This news release contains forward-looking statements that involve risks associated with clinical development, regulatory approvals, including application to the FDA, product commercialization and other risks described from time to time in the SEC reports filed by the Company. AVR118 (Product R) is not approved by the U.S. Food and Drug Administration or any comparable agencies of any other countries. There is no assurance that the Company will be able to secure the financing necessary to continue and/or complete the clinical trials of AVR118 or satisfy certain other conditions relating to clinical trials including obtaining adequate insurance on terms acceptable to the Company or that if completed, clinical trials performed outside the United States will assist the Company in obtaining FDA or other regulatory approval. The Company undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise. 

     CONTACT:  Ronnie Welch or
               Kelly Cinelli
               CWR & Partners,
               508/222-4802

 
By: richardlia
04 Feb 2004, 08:03 AM EST
Msg. 137666 of 137740
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Nobody invest that kind of money if they are not sure to make a huge profit!

Richard
By: FoxChase1803
04 Feb 2004, 08:40 AM EST
Msg. 137682 of 137741
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Thanks, Mega!: "This is VERY significant news....ex-Board Member of ADVR funds to a total of $12 million to enable ADVR to quicken the pace of the HIV and Cancer trials. Do not be surprised to see the HPV trials (Phase II) start here in the US soon. With the prospect of a new CEO greatly enhanced now--and the Cancer Conference and a presentation by our own brilliant James T. D'Olimpio M.D in Florence, Italy, from February 19 - 21, 2004, (and this is huge and should be a PR generator), ADVR investors may have seen the last of the prices in the teens.

megabite911: wow!"

---------------------------

Loooooooking goooood!

Foxy
By: outofpatience
04 Feb 2004, 08:51 AM EST
Msg. 137690 of 137742
(This msg. is a reply to 137687 by sk1053.)
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i understand burn rate is 300k per month . add in one time costs for different trials at 500k-1mm each and i would say company is comfortably funded for 2+ years. that is unheard of for this kind of company and historically for ADVR
By: SUE32073
04 Feb 2004, 08:54 AM EST
Msg. 137693 of 137743
(This msg. is a reply to 137658 by SUE32073.)
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"The funding shall take place in four equal stages of $3 million each, once every 90 days with the first $3 million funding to occur February 5, 2004."

So, in other words, ADVR stock MUST BE AT $.20 EVERY 90 DAYS, in order for the Dickie family to continue to LEND THE NEXT PHASE OF $3 MILLION!

So, if the stock goes below $.20 per share.....NO DEAL?????

So, we get the 1st installment of $3 million TOMORROW (IF THE STOCK STAYS ABOVE $.20)??????
By: tellslikeitis
04 Feb 2004, 09:50 AM EST
Msg. 137734 of 137769
(This msg. is a reply to 137672 by DIAMONDring.)
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And a new CEO is not likely to come cheap either, Some have said here that Elma Hawkins, now on the company's BOD and Executive Committee may be the CEO-designate. According to Forbes online, her total compensation at Antigenics, Inc. was $386,907 for 2002. Even if she joined Advanced Viral at a comparable amount and not higher, the CEO,CFO and Chief Scientist's salaries would alone exceed $1 million a year.

If Hirschman were made to depart the company to save on salaries, would the remaining scientists and technical staff who were brought in by him (and who are the only ones left who know the drug manufacture and testing) all stay on? Since there is already just a skeleton staff, would the company be able to go on and continue making and testing the drug and filing INDs with the FDA without their services?

 

By: ejagacki
04 Feb 2004, 10:33 AM EST
Msg. 137775 of 137782
(This msg. is a reply to 137768 by sk1053.)
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ski:

it's 12 million divided by 120 million shares, not 135 -- for an average price of .10 ps.

The other 15 mill are warrants with an exercise price of .20 ps.

If you're gonna bash, at least make a modest effort at accuracy, ok?
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By: Axle_and_Hub
04 Feb 2004, 10:34 AM EST
Msg. 137776 of 137784
(This msg. is a reply to 137719 by shemp1248.)
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I had to jump in - off the "lurker bench"

Greetings Fellow Readers and Shemp,

I don't post here - but I've been one of the "silent" shareholders for way too long. You talk about the science and the value of the drug ADVR has - well dandy. And it has a great market application - dandy.

But Shemp - you don't get it - shareholders have been repeatedly diluted out of the value of the company - because the management process here is all about the science - and not about the business.

You clearly post a wonderful story about how Prilosec took millions to get to market. But guess what - Merk "knew" that would be the case - so they arranged their business plan to accomodate it ahead of time.

Did ADVR? No. Over the last few years - we've seen our company do private placement after private placement in a piecemeal process at ever LOWERING valuations of the stock price. Each one was done WHEN THEY NEEDED MONEY - and not when it was spart to do it. It may be great science - but its rotten business.

Somebody is going to own "great science", but each month that goes by - of each year that goes by - the owners are not going to be us. Having a great product with 50 million shares is alot more important than having a great product with 750 million shares and years of delay.

This most recent private placement is getting us closer and closer to the valueless level of 0.00. They sold the stock for a dime a share and that included warrants too. What a sad day - another desperate day of poor planning and poor perspective on what shareholders expected. What a sad sad day to be a long term ADVR shareholder.

Axle-and-Hub
By: Ourobouros
04 Feb 2004, 10:37 AM EST
Msg. 137780 of 137786
(This msg. is a reply to 137762 by jk1550.)
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What's unfortunate is that many listen _only_ to what THEY want to hear.

And when reasonable - perhaps differing - points of view are offered, the crowd becomes deaf to that potential POSSIBILITY. Thus eliminating many of their options in how to deal with the company and their investment.

I should know because I did that for a very long period of time - and suffered the consequences as a result of that limited thinking pattern
By: tyraid1
04 Feb 2004, 10:45 AM EST
Msg. 137790 of 137792
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I think we all need to do a simple math lesson here. They are set to purchase 120mil shares over the next 12 months in 4 month intervals. They are going to pay a total of $12mil for these shares. The first purchase is set for tomorrow for 30mil shares(120mil/4). Now at the current price they would pay $5160000 for the 30mil shares($.172*30mil), however, they are only putting in $3mil for this purchase. That tells me they are going to get their shares for $.10/share to reach $3mil. Now if I was a smart guy that had $12mil to donate to a company, I would be straight to the market with at least 10mil of those shares trying to broker the best price possible. What would this do to the pps??? You can do the math on that one.
By: outofpatience
04 Feb 2004, 10:46 AM EST
Msg. 137791 of 137792
(This msg. is a reply to 137783 by kevtod.)
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I believe Dicke HAS NOT cashed out any of his prior investments in ADVR. SINCE he and his family you are worth over 1 BILLION dollars , I do not think he is in this for a "trade". he has seen what the drug can do and obviuosly has bought in on the concept (again), but this time with much more money
By: outofpatience
04 Feb 2004, 10:50 AM EST
Msg. 137795 of 137845
(This msg. is a reply to 137786 by rarboston.)
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they did not "give away " anything. unless you were willing or able to come up with the 12mm for nothing, the company did a unbelievable financing with a non-vulture investor. the need for more funding will not come up for either 2+ years or until a partner signs up. this is a terrific event that i am sure will get coverage in the financial press becuse of who Dickie is. say tuned
By: kevtod
04 Feb 2004, 10:55 AM EST
Msg. 137797 of 137848
(This msg. is a reply to 137775 by ejagacki.)
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Well ed- Once again, the unclear verbiage does lend itself to confusion.....Happenstance or design ???....

Advanced Viral Research Corp. (OTC Bulletin Board: ADVR) today announced that it entered into an agreement with James Dicke II and his son James Dicke III whereby ADVR shall sell to the two purchasers an aggregate of (i) 120,000,000 shares of its Common Stock; and (ii) warrants to purchase 15,000,000 shares of its Common Stock at a purchase price of $0.20 per share, for an aggregate purchase price of $12 million. The funding shall take place in four equal stages of $3 million each, once every 90 days with the first $3 million funding to occur
February 5, 2004. Mr. Dicke is the Chairman and CEO of Crown Equipment Corporation and a former member of the Board of Directors of Advanced Viral.
**********************************************************

The "aggregate" is described as (i) & (ii), with the warrents inclusive.....So, if the total "aggregate" is 120,000,000 shares, should we subtract the 15,000,000 in warrants @ .20 (& less $3,000,000), leaving a total of 105,000,000 shares to be diveided by $9,000,000.....Which gives them to Dicke & Son @ around .085-.086 ?????

HMmmmmmmmmmmmm.....-kevtod

 

 

By: kevtod
04 Feb 2004, 11:07 AM EST
Msg. 137803 of 137848
(This msg. is a reply to 137791 by outofpatience.)
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outof- I don't believe that he HAS or HAS NOT cashed out on part of his previous debenture investement. It wasn't really the point I wanted to make. Sorry for the confusion.

The point was to answer the question, "WHY would he be investing more money ??".....So, even if he is still holding the shares, (they were restricted for one year from the vesting date), his (up to now) $800,000 investment is worth approx. $1,800,000 on paper.....(After 18 months)....Not a bad investment....

Hope this helps.....kevtod
By: FoxChase1803
04 Feb 2004, 11:09 AM EST
Msg. 137805 of 137848
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It's time for the biotechs to stand and deliver

January 2, 2004
Sidney, Australia

Investors who have poured their money into drug experiments want returns. Eli Greenblat reports.

Australia's listed biotechs raised more than $300 million in 2003, taking advantage of buoyant capital markets and insatiable demand from investors to scoop up as much fresh capital as they could carry away with them.

But as the dust settles in 2004 shareholders will be expecting results. And increasingly they will be demanding the kind of results that not only put a rocket under share prices but also buttress balance sheets and deliver profits.

In 2003 profits were scarce.

Of 57 listed pharmaceutical and biotechs only six companies, or 10 per cent, recorded a profit in 2002-03, while only half of those paid a dividend.

Biotechs in the black were market heavyweight CSL, Amrad, Arrow Pharmaceuticals, Australian Pharmaceuticals, Institute of Drug Technology and Sirtex Medical. Of those only Australian Pharmaceuticals, CSL and Institute of Drug Technology paid a dividend.

Expect more rowdy annual meetings next year if the rest of the biotech pack, and especially a cluster of middle-ranked players, again fail to deliver, as directors and managers come under the pump from angry shareholders who see nothing but red ink in the accounts and well-heeled executives sitting in plush city offices.

Harry Karelis, managing director of listed investment fund Biotech Capital, said that middle-ranked biotechs such as Peptech, Ventracor, Novogen and Chemeq would need to step up to the next level in 2004 and prove they could be the next CSL or ResMed.

"These are all companies that are generating revenue now or soon should be and if they don't by 2004 the market will punish them," he said.

Mr Karelis said investor patience could be stretched if among the conga-line of new floats next year there was very little in terms of quality.

"So long as people are making money in speculative biotech plays they will continue to reinvest, but I'm concerned that there has been some very average floats in the biotech sector towards the end of 2003.

"They have been rushed to the market, I think they have been overvalued and they have raised a lot of money and I don't think the promoters realise how the markets work."

Mr Karelis, who manages $25 million invested across eight biotech companies, said an important theme for investors in 2004 would be biotechs hitting their clinical milestones.

"Investors need to watch this closely, the milestones, and ask themselves 'is this a great business?' as opposed to 'is this just a great technology?'

"The day traders will just be looking for the constant stream of news to push the share price higher, while the institutional investors are going to want meaningful announcements," Mr Karelis said.

Biota chief executive Peter Molloy believes investors are unlikely see the kind of share price gains this year that were experienced in 2003.

"Things now seem to be flattening out for the biotech sector, which is to be expected after seeing in the last six months 50-60 per cent growth by some shares, so I think what we are going to see now is investors looking for some delivery of promises," he said.

Mr Molloy got an up-close view of how investors can turn on a company this year when Biota had a near-death experience at the hands of corporate raider and entrepreneur Farooq Khan.

Mr Molloy said he did believe investors would still maintain an interest in the sector, but that share prices in 2004 would be driven by drug breakthroughs and other "real" announcements, instead of hype and promises.

"The fundamentals for the industry are outstanding for 2004, and in terms of the new biotech drugs that will come into the marketplace they will stimulate investor interest."

Some analysts and CEOs have adopted a bullish outlook and dubbed 2004 the "year of the deal", as giant US pharmaceutical companies desperate for new drugs tap into the growing pool of intellectual property gushing out of biotechs.

Vital Capital chairman Andrew Vizard is targeting an increase in deal-making for his company's investee business, with its Vital Health Sciences subsidiary recently stitching up supply deals for its vitamin E compound.

"After a few years of subdued consolidation, we believe the biotech sector has the potential to really take-off in 2004."

Scott Power, senior analyst with ABN-Amro Morgans, said biotechs that completed successful clinical trials this year could find themselves showered with juicy partnership deals from the large overseas pharmaceuticals.

"What we are looking for are good clinical results coming out from around the world, and especially Australia, and with the large pharmaceutical companies' pipelines starting to dry up a little there is an increasing tendency for them to license in development work," he said.

These large multinationals were also suffering from shrinking drug portfolios as the patent protection on certain technologies began to expire, he said. This would add extra urgency to sealing partnership and licensing deals.

"There's about 700 deals struck each year around these large pharmaceuticals, and what we will see is probably that number increase in 2004."

Mr Molloy said that if Australian biotechs wanted to clinch similar partnerships or licensing deals with US pharmaceuticals in 2004 they would need to ramp up their investment in research and development, as well as shifting management to the US.

"Fundamentally this is an industry driven by R&D spend; in order to create something of value that you can create a substantial deal around, you need to invest in R&D," Mr Molloy said.

Where Australian biotechs failed was in spending too little on this critical area.

"Our biotechs tend to invest very thinly in R&D, and whereas the average company spend in the US is $US70 million ($92 million) a year, the average in Australia is less than $1 million.

"With that kind of spend it's very hard to create the kind of value that is going to get the attention and deals from big pharmaceutical companies."

But don't expect all deals in the sector to be from traditional sources, says Genetic Technologies chairman Mervyn Jacobson.

"I think that not only will large international pharmaceutical companies and some of the large agricultural companies be interested in doing deals, but also some of the well-known industrial multinationals are starting to identify the huge potential that biotechs offer in focusing on well selected programs."

Dr Jacobson pointed to US giant GE's recent $US9.5 billion acquisition of British life sciences company Amersham as a perfect example of the kind of industrial-biotech marriages that could become popular.

"General Electric's decision buy Amersham was a very significant move and sends the signal that companies that built themselves up on inventing and selling the electric light bulb or computer components now see biotech as the place to be as it offers benefits for human health and improved quality of life."

http://www.smh.com.au/articles/2004/01/01/1072908848836.html?from=storyrhs
By: allenadvrlong
04 Feb 2004, 11:10 AM EST
Msg. 137806 of 137848
(This msg. is a reply to 137795 by outofpatience.)
Jump to msg. #  
GAVE IT AWAY ?
WHATTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT

20% to two people who can be the "Tipping Point"
or the one single action that causes ADVR move
along and get drug approval down the road.

How can I expect penny pinchers, the bus station crowd
and the intinerant nuts that scriptically transverse this
board to understand the psyche and makeup of a business person
who invests 12 million of their dollars in a early stage biotech with a novel/platform approach.

I cant !

Congratulations to ADVR
I know whats to come from here
the long boring but progessive steps you must now pain- stakingly -Go for it, find a way to legislate these killer
diseaes.

Best to you

Allen
By: gkush
04 Feb 2004, 11:18 AM EST
Msg. 137811 of 137848
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Nothing unclear about this release. The shares and warrants were sold for $12,000,000. The exercise of those warrants will be at .20 at some later date. Sold first thing this morning. For the financeers, an immediate and great 100% on your money if this holds at .20 in the coming months, plus the warrants to be used if anything major comes out of the product. For shareholders, we've been diluted into oblivion.
By: spec4
04 Feb 2004, 11:22 AM EST
Msg. 137813 of 137848
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Definitely a plus today. This financing comes from a
serious investor and leading corporate leader. As the Chairman of Crown Equipment Corporation, the fifth largest
equipment manufacturer in the U.S., Mr. Dicke and his son
are big time members of the ADVR team. Go to Google and read more about them. Just put in James Dicke or Crown
Equipment and there is lots of info. Dicke, the dad, is also an accomplished painter, with his work displayed in
galleries around the country, as well in private collections. Our Advr chairman Eli has a collection he displays and Mr. Dicke is one of the artists featured in
that group of paintings. Obviously, our team has roots
that run very deep. This is going to get very interesting.

(Voluntary Disclosure: Position- Long; ST Rating- Buy; LT Rating- Buy)
By: ejagacki
04 Feb 2004, 11:26 AM EST
Msg. 137814 of 137848
(This msg. is a reply to 137811 by gkush.)
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gkush:

"The funding shall take place in four equal stages of $3 million each, once every 90 days with the first $3 million funding to occur February 5, 2004."

I maintain that the warrants are NOT included in the $12mm figure.

As you said, they will be exercised at a later date (at the discretion of the holder?).

The funding sales will take place on a pre-ordained schedule (every 90 days for $3mm).

Ed
By: nvphyl
04 Feb 2004, 12:07 PM EST
Msg. 137825 of 137848
Jump to msg. #  
If ADVR is able

to get AVR118 approved there undoubtedly will be exponential gains from this price. IMO It is far too late in the game to worry about dilution. There most likely will be a r/s. Done at the right time it can help.

The people that put money into ADVR do so to make a handsome return. So if we have a long and a trading position I believe we should cash in short term also.

This was a great trading opportunity as was the one after the pre-lim results were announced. I look forward to many more. An 8 cent move on a modest 25,000 shares nets $2,000.00 before taxes. Do it an IRA and the taxes are deferred. Now that's not going to get you rich but it can help pay the bar tab. lol
By: rarboston
04 Feb 2004, 12:23 PM EST
Msg. 137829 of 137848
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Well, I've always believed that Reticulose, Product R, and AVR118 have been a vehicle for funding of Hirshy's obtuse scientific research.

I still believe one must view this company as a non profit organization. With any non profit, some are involved to make $$$$, others are truly interested in donating their $$$ to the cause.

I believe AVR118 may have some clinical value, but the primary objective of this company/non profit is to do research.... research for the sake of research.

It's not a bad thing...I donate $$$$ to several organizations yearly, but I do so knowing that it's a donation, not an investment.

Has Dicke donated $$$ previously?
By: riffypa
04 Feb 2004, 12:38 PM EST
Msg. 137831 of 137848
(This msg. is a reply to 137814 by ejagacki.)
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Ed, yes you are correct. Warrants are at the discretion of the holder and typically have a six month lock out. If Dicke decided to exercise his warrants at a later date it would cost him 3 million (if he exercised all 15m warrants).
Note: That is 3 million ADVR would receive.

What is unknown now is the restrictions on the 120m shares? However, I am not worried because this is (relatively speaking) friendly financing!
By: techkim
04 Feb 2004, 08:42 PM EST
Msg. 137929 of 137960
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ADVR

1) the company has been honest to investor concerns. it told everyone it was broke. did not hide it.

2) The topical cream is usefull for AIDS patients. So when the FDA time comes it should get priority orphan status.

3) Phase 2 announcement very soon. Phase 2 is a government formality. I believe the company and the recent financiar know the topical solution will pass phase 2 and 3 easily.

4) Israel most likely will be the first country the ADVR topical will be approved. FDA in U.S. always follows behind.

5) Generally I do not like dilution. But this dilution is not for corporate welfare, but directed at a phase 2 program and most likely phase 3 unannounced.

6) If dilution is a concern take a look at cris and tgen in comparison. Should be no be no further dilution for at least a year. Very possible there may be european approval for use of the topical by then. FDA approval is not probable but possible with in a year.

(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)


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By: enoughalreadyny
04 Feb 2004, 09:02 PM EST
Msg. 137936 of 137960
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All of us who are long need to step back and take a good look at what has happened. Short of a joint venture with a big pharma or a biotech this is the best deal possible. Here we have a very wealthy man in James Dicke who could care less about making a few pennies on his investment putting up 12 million dollars and basically saying:go get this drug approved. I'm there if you need me. The reality is, based on the trials going on in Israel, within 3- 6 months we will have final Phase 2 results for cachexia. Those result will undoubtedly get us a partner, even though we have 2 years of cash in the bank. The big news is "no more toxic financing from this company" EVER!!!!!!!!!!!!!!!!!!!!!Billiant job Mr. Wilner. Now if we can only replace you with a "real"biotech CEO. No offense, but you are the best in the frame business, but as far as biotech. Well, we'll see. Good luck to all. And as i said before, as far as these market makers on the OTC bulletin board, if you are short: GAME SET MATCH. And based on todays trading someone is very, very short
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View Replies »
By: riffypa
04 Feb 2004, 09:03 PM EST
Msg. 137938 of 137960
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My oh’ my! We get a great 12 million financing deal and people still complain. With this money (and the necessary dilution) comes two plus years of funding. Finally, ADVR’s funding concerns have been eliminated for at least two years.

IMO, within the next two years Israel trial data will be used for a US IND filing (most likely starting at Phase II). HPV Phase two will be well under way and sometime during that time frame we will have one or maybe more partnerships for various indications.

In addition, the new CEO should be announced in the near future and the PPS will rise accordingly during this timeframe.

Today’s market reaction to funding is very typical to biotech stocks. Private placement funding and secondary offerings usually cause PPS to initially sink.

The significance of this funding is that for ADVR, this represents a very large infusion of cash. Much larger than they ever received in the past. Cornell type deals are now history. Most likely Cornell shares are history (except the warrants). Although it also creates dilution the money will enable ADVR to create VALUE that will compensate for the dilution in the long run, IMO.

Today’s announcement is nothing less than very positive!
By: BrittMaras
04 Feb 2004, 10:38 PM EST
Msg. 137956 of 137960
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If you thought they had to pay H a lot of money, it won't seem like much if they do. Hirschman and Wilner are doing just fine right now. I think they should wait until they NEED one in the eyes of the medical community - this means results.

A new CEO won't do much for stock vaulation, at this point, especially as long as you have this hype and early trading along with lack of support on the street by any particular market maker.

A market maker is just that! A market maker can make or break your company. This Company will face a time, well before stock price appreciation - when they will need to visit the street and establish better communications with a select group of makers who cross the stock on a regular basis. Maker interest and understanding will help shore up value at the appropriate time. This will also be reflected with the maturity of results.

This drug has much promise, now it's time to mend the fences that line the street.

Cheers