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Exhibit B
June 15, 2000
To The Holders of the Warrants (the "1996
Warrants") Issued Pursuant to a Warrant
Agreement dated as of June 17, 1996 between
Nexell Therapeutics Inc. (f/k/a VIMRx
Pharmaceutics Inc.) and American Stock Transfer
& Trust Company (the "Warrant Agreement"):
Pursuant to Section 10.1(b)(iii) of the Warrant Agreement, as a result
of the one for four reverse stock split of the common stock of Nexell
Therapeutics Inc. ("the Company"), effected on June 15, 2000, the exercise price
for the 1996 Warrants, which had been $1.35 per share (as a result of
adjustments effected on November 24, 1999), has been adjusted to $5.40 per
share, and the aggregate number of shares of common stock of the Company for
which the outstanding 1996 Warrants are exercisable has been reduced by 3/4th.
Available upon request is a report of the Company's independent
auditors, KPMG llp, on a schedule setting forth the exercise price after such
adjustments, a brief statement of the facts requiring such adjustments and the
computation by which such adjustments were made. To obtain copies of this
report please contact Jackie Perry at (949) 470-6682.
If you have questions, please contact the undersigned at (949) 470-
6485.
Very truly yours,
/s/ William A. Albright, Jr.
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William A. Albright, Jr.
Senior Vice President, Treasurer,
Chief Financial Officer and Secretary
Nexell Therapeutics Inc.
