We should wait for the quarterly sales report before selling any shares. The $3.60 price is too low unless you believe sales are going to fall even further.
Last year quarterly Fuzeon sales were announced on Oct 20, 2008.

We should be given answers to the following questions.


1) Why is Trimeris being sold to a company not in the drug business?
Arigene Co., Ltd was formerly named Yellow Entertainment. It is a television and movie company not a pharmaceutical or biotech company. The research information and patents belonging to Trimeris should be worth more to a company in the drug business.
http://www.crmz.com/Report/ReportPreview...
http://arigene.com/

2) Do the shareholders, who have agreed to this sale, have an immediate need for cash?
Four shareholders hold a total of 56.5% of the shares.
http://finance.yahoo.com/q/mh?s=TRMS
HEALTHCOR MANAGEMENT LP 19.75%
BAKER BROTHERS ADVISORS, LLC 15.49%
BRIDGER MANAGEMENT LLC 11.23%
ORBIMED ADVISORS LLC. 10.03%
If "stockholders of Trimeris representing approximately 36% of shares" have agreed to this, that could mean as few as 2 shareholders have agreed.

3) Is there any relationship between any large shareholder or member of Trimeris management and Arigene?

4) How is the study progressing on using Fuzeon as part of a cure for HIV?
http://www.bloomberg.com/apps/news?pid=2...
If this study is successful, Fuzeon sales should increase greatly.

5) Why shouldn't Arigene be willing to pay more?
Stockholders equity is $1.13 per share as of june 30, 2009, and that includes $1.45 per share in cash, cash equivalents and short-term investment securities.
A price of $3.60 minus the $1.13 in equity leaves only $2.47 for the value of future income.

Revenue last quarter was over $.16 per share.
If expenses were held to zero and sales continued unchanged Arigene would recover its entire investment in less than 4 years.

Obviously Arigene's expenses won't be zero, but they should not be very high since all they have to do is cash the checks from Roche.