Archived so you can listen yourself (about 29 minutes). Done in Fireside manner with initial overview, then questions from host, then several audience questions (until time runs out).

These investor presentations often reveal new info, and this one was such.

ACR Abstracts went on line yesterday (I haven't looked them up yet), but one is from an investigator posting encouraging data from case studies with K involving immunomodulation through coupling with Methotrexate. M is already used by Rheums and Nephros and they are comfortable and familiar with the pairing of this drug with infused agents. There are anecdotal reports of physicians already using M with K and getting great results (although after FA failure I hate the word "anecdotal."). Currently about 50% of the patients develop antibodies and must stop treatment (although still garnering benefit - my comment and should have been theirs as well in the CC).

company has become much more disciplined in acquisitions, and although clinical stage and preclinical products are their focus, they will not incur debt or use stock to this purpose. Acquisitions will be made with cash or cash flow. The company's leverage is greatly increasing over time, as loan balances recede and income surges.

T top line data will be out in Q2 (not news) and filing mid-year (if successful). No other studies will take place (e.g. Graves disease) until T is approved.

No mention of SEL-212, but they obviously believe Rhuems and Nephros prefer M over R as a mitigating agent (inferred by me from their citing 3 immuno drugs familiar to those physicians).

2-4 year acquisition plan to continue to transition the company to Orphan and/or Bio, but R&D operational expenses will always be kept in check to support a robust bottom line.

Lots of good stuff in just a half hour - recommend investors take the time to listen.