Dow Jones 12176.38 +19.61 1:18 pm PST, November 8, 2006 NASDAQ 2384.94 +9.06 For info, visit access.smallcapnetwork.com S & P 500 1385.70 +2.86 Change your subscription status here Russell 2000 769.84 +5.45 VOLUME 06: ISSUE 89 Special Edition   Company Name: Immune Response Corp. (IMNR) Coverage Initiated: November 1, 2006  Release Price: $.019 Average Volume: 4,842,960 52 Week Range: $.01 - $.30 Small Biotech With Enormous Potential Did you know four of the last seven SmallCap Digest biotech picks have led to gains in excess of 100% following the release of our initial profile? Since 2002, of seven biotech companies we've profiled, four became double baggers and a fifth achieved gains of just over 75% in only a few short days. Are we gloating? Maybe a little, but we're trying to make a simple point - there's a valid reason savvy investors have looked to us for great trading ideas over the last six years. With that being said, we believe we've identified yet another biotech stock with the potential to provide our readers with the same kind of returns you've come to expect.  Our latest biotech feature profile is a company that has been on our radar screen for years. However, we've never made mention of it, until recently. It has tested patience, and challenged the conviction of many, but we believe the time has finally come for this Company to reward investors. More importantly to us, we believe our latest profile provides a significant opportunity for our readers to generate substantial returns from its current price level. It's simple - if you like speculating in low priced stocks, you need to own Immune Response (OTCBB: IMNR), and you need to own it today... before it breaks out of its current trading range. Shares of IMNR reached a high of over $70 back in 2000, and have since slid to an all-time low of two cents a share, which is where it has been trading now for months. Would you have rather taken a shot at it then, or now? Obviously a simple answer in hindsight, but more importantly, can this once high flying NASDAQ biotech return to the spotlight? Yes, we believe IMNR is positioning itself to regain its darling status once again, and we believe the time is now.   He Who Hesitates May Not Profit Investing in biotech can often be a tricky endeavor, which in our opinion, is all about technology and timing. Identify the technology and invest at a time when the stock price reflects that nobody seems to care. Often when a promising biotech finally achieves phase III approval, the masses jump on board only to find out all of the anticipation of clinical study success has been priced in. Case in point...  Back in 1988, if you had told your friends you were buying into a 60 cent stock of what was at the time a little-known biotech company, your friends "may" have laughed at you. However, the joke would have ultimately been on them, as you'd be laughing all the way to the bank. Your shares of Amgen (NASDAQ: AMGN) would have appreciated by more than 12,000% over the next couple of decades, despite the company's humble beginnings.  Point being, biotech penny stocks can and do produce home runs, and sometimes even a grand slam. We're not saying today's idea is the next Amgen. However, we are trying to illustrate one important concept.... to get the most out of an idea, we think you have to take action early in a company's development, while the stock is well undervalued. We'll just say we wouldn't be surprised to see similar results a couple of decades from now if IMNR ends up being everything we think it could be, rewarding today's investors who jumped on the opportunity while prices were stunningly low.  Why do we think Immune Response looks so ripe right now? First, and likely the simplest of answers, the stock currently trades at two cents per share, and the Company has not one, but two, drug therapies in the works that are now in Phase II trials. Yes, a time when nobody necessarily cares. And, how about the fact that the CEO is possibly the most qualified biotech CEO in the country? Joseph O'Neill could have written his own ticket to go anywhere else, but chose to run the helm at Immune Response.    A Secret Not Likely To Be Kept  We feel one of the big keys to our success here at the SmallCap Digest is being able to present a company to our readers first, before anybody else recognizes the idea. In other words, we like to get involved before the vast majority of the market - institutional or otherwise - discovers these great stocks, which could potentially allow us to just sit back and enjoy the ride if demand shoots through the roof. Of course, to make it work, we also feel you've got to be willing to make a move early on. Immune Response may be flying low on the radar right now, but we think the cat is about ready to be let out of the bag. Here are a few key points we've identified that we feel are worth serious consideration:  Immune Response is working on vaccines for Multiple Sclerosis and HIV/AIDS, using the principles pioneered by Dr. Jonas Salk...the person who developed the first polio vaccine (and who also founded the company). Yes, there are lots of treatments in the works for both diseases, but they aren't vaccines. That's a critical difference.  The annual MS treatment market is worth $5 billion. The annual HIV market is worth $7 billion. Both are growing.  The CEO of Immune Response - Joseph O'Neill, MD, MPh - is the most qualified person we can imagine to assume the role. His experience includes serving as the Director of the White House Office of National AIDS Policy, and as the Deputy Coordinator and Chief Medical Officer in the Office of the U.S. Global AIDS Coordinator. He also holds a faculty appointment at the Johns Hopkins University School of Medicine, and maintains a clinical practice in the Johns Hopkins Hospital HIV/AIDS Program.  How long do you think the market is going to overlook a company like this? We don't think very long, so if it appears as though we're pressed for time, it's because we may well be. Our opinion is simple....we think this company's capitalization on those three key dynamics could mean big returns later for today's investors.   A Little Gain Could Go a Long Way  If the company sounds familiar, it should. As we mentioned above, Immune Response was a big name in the late 90's, when AIDS was at the forefront of society's medical needs. The stock, which traded just under $80 in March of 2000, is now trading at 2 cents - a tiny fraction of where it was just a few years ago. The ironic part, and the key behind the opportunity, is this....we think the company today is a much more sound company than the one it was then, when it was near $80. In our opinion, the current leadership is second to none, their two lead vaccine projects (both of which are promising) are unlike anything else in development to treat MS and HIV, and the potential markets for both are in the billions.  And, if you're wondering whether or not Amgen was just a stroke of luck, it wasn't; comparably amazing biotech stories play out year after year. And yes, they can and do benefit investors just like you. Teva Pharmaceuticals (NASDAQ: TEVA) is another one of the many biotech companies with a stock that went from pennies to big bucks. Trading at 31 cents in January of 1988, the current level of $33.30 is a monstrous 10,642% gain, reaped in less than two decades.  Here's the fun part - you can own 100,000 shares of this company for just $2000. Now start doing some math. Even if IMNR reclaims only a fraction of its previous value, you'd still be doing great. Extrapolate the value of your 2 cent investment if shares can get back up to even just 8 cents, where they were in May.... or $1.61, where they were trading at the end of 2004. Those would be returns of 300%, and 8000%, respectively. We can't even conceptualize the kind of money that could be made with a return to its peak highs near $80...OK, we can. It would be a 400,000% return, turning your $2000 into about $8 million. We'd be happy with slightly less though.  As we said, we can't guarantee Immune Response will end up being the next Amgen or Teva. However, we sure believe the similarities are there. It's the same industry, and the company is working on the same kind of cutting edge biotechnology that could literally translate into billions of dollars worth of revenue.  As cliché as it sounds, investors rarely regret the things they do....they regret the things they don't do. In our opinion, Immune Response is the kind of opportunity that makes the cliché true. And, we think a few years from now, IMNR is going to leave a lot of people wondering why they didn't act on the opportunity when they had a chance to own shares at only 2 cents. However, for the folks willing to invest today, we think IMNR has the potential to create some seriously good returns. And, it would be a fitting success story since Immune Response was co-founded by one of the greatest human assets to modern day medicine in history, Dr. Jonas Salk, a grateful legacy that continues to live to this day.      We Value Your Feedback   Got comments, questions or suggestions? Send 'em on over: Editor@smallcapnetwork.com If you wish to send a written request or inquiry, please send it to our physical address: TGR Group, LLC 4653 Carmel Mtn Rd Suite 308 #402 San Diego, CA 92130 Subscribe Information is power and timely information is profitable. 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To the degrees enumerated herein, SCD should not be regarded as an independent publication.  Click Here or go to http://access.smallcapnetwork.com/compensation_disclosure.html to view our compensation on every company we have ever covered, or visit the following web address: http://www.smallnetwork.net/profile_disclosure.html for our full profiles and http://access.smallcapnetwork.com/short_term_alerts.html for Trading Alerts.  TGR Group, LLC has been paid a fee of $30,000 cash and 10 Million shares of newly issued restricted stock by Immune Response Corp. for coverage of the Company. From time to time TGR sells shares received as compensation for coverage of client companies. Shares received are sold in the open market. Since the shares are received as compensation for services as previously disclosed, and not for investment purposes, TGR does not view the sale of the shares as contradictory to any opinions delivered in the content. This should be viewed as a conflict of interest by shareholders or prospective shareholders of the client companies.  TGR, its Members and Members' families, are forbidden by company policy to own, buy, sell or otherwise trade stock for their own benefit in the companies who appear in the publication unless specifically disclosed.  All statements and expressions are the sole opinions of TGR and are subject to change without notice. A profile, description, or other mention of a company within SCD is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein.  THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. 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