Short Interest 20 Million Shares

Feb. 10, 2017 8:19 AM ETIMMU1 Comment
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Long-Term Horizon, Long Only, Biotech, Special Situations

Contributor Since 2008

Roland Rick Perry is the Managing Director of Institutional Analyst Inc. (IA), an independent investment research firm, as well as editor of nine industry-specific investment reviews.

One of the top one-mile runners in history to come out of the Chicago area, he attended Southern Illinois University, Loyola of Chicago and UCLA on track scholarships, achieving an Olympic Qualifying time in the late 70's, right in time for the Olympic boycott in 1980.

Roland began his career on the floor of the Chicago Board Options Exchange (CBOE) as a runner in 1974 while in high school. He later worked for a number of well-respected investment banking firms such as Merrill Lynch, Paine Webber, AG Becker Paribas and Drexel Burnham Lambert, prior to launching his own firm in 1995.

He is the founder of the Chicago Stock & Bond Club, Morgan & Weed and Blank Check Capital Corp., which participated in Wall Street’s first “Ultra Mini™” blank check (SPAC) offering, as President of Life Sciences Opportunities Inc., which successfully merged with Beverly Hills-based “Dr Tattoff” the leading Tattoo removal company in the U.S., with over 250,000 treatments on more than 25,000 patients.

Mr. Perry has been quoted and/or interviewed in the New York Times, the Los Angeles Times, CBS MarketWatch, South China Morning Post, the London Register, the UK Register and featured in Australia's ABC televised broadcast Lateline, and in a featured segment piece on National Enquirer TV.

IA is a leading publisher of news, perspective, and market intelligence reports on the equity markets. Working with publicly traded corporations, the firm works with small-cap companies which have products and/or services which can best be described as "best of breed." To align itself with shareholders, IA typically seeks to have 90% of its retainer, represented by an equity stake in their client companies.

Founded in 1995 and based in Chicago, the heart of the trading industry, Institutional Analyst has offices in Beverly Hills, CA, Chicago IL, Delray Beach, FL and Port Jefferson, NY.

Industries covered include:


Patent Monetization (on hold)


Alternative Energy

Marine Exploration (on hold)

Special Situations


Restaurants (on hold)

Stem Cells 



Blockchain (of course, but with major trepidation)

Precious Metals

BDC's and Private Equity

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Terms of the Agreement

The agreement provides for potential payments of approximately $2 billion across multiple indications, plus double-digit tiered royalties on global net sales. Under the terms of the agreement, Immunomedics will receive $250 million in upfront cash payment, plus, among other milestone payments, an additional $50 million (or negotiated economic splits) relating to rights outside the U.S., Canada and the EU. The remainder of the consideration comprises approximately $1.7 billion that is contingent upon achieving certain clinical, development, regulatory and sales milestones, including an anticipated near-term milestone for acceptance of the Biologics License Application (BLA) by the U.S. Food and Drug Administration for TNBC, additional milestones based on regulatory approval of IMMU-132 for TNBC in the U.S. and other territories, and future development and regulatory milestones for additional indications beyond TNBC. Future royalty payments are tiered double-digit royalties based on global net sales. In addition, Immunomedics will retain the right to elect to co-promote IMMU-132 in the United States by participating in 50% of the sales effort, subject to certain parameters set forth in the agreement.

Disclosure: I am/we are long IMMU.

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