Izzy and others... forget the valium, give me some good old fashioned heroin or give me death!
On a more realistic note, this afternoon I spoke with Sherry in Investor Relations (619-622-3000). Their computers were out for a good part of the day. Although she is a nice enough person, she didn't seem to have a clue about stocks. I asked her about the volatility today and she didn't know what might cause it. (IMO it could be linked in some strange way to CI's problems; heck it could be linked to anything). She didn't seem aware that the English cancer effort announced today might have something to do with it. She thought the effort was a positive -- maybe it is.
IMO it could be that the English cancer thing might increase AGPH's cash burn rate, and for that reason they may show some steeper losses in the future. If I'm wrong, please someone set me straight.
As I read the daily chart today here, about 500K shares were traded bet 1430-1500 CST, so a major part of today's action may be attributable simply to some major player getting out/repositioning.
Here's the story:
LA JOLLA, Calif. -(Dow Jones)- Agouron Pharmaceuticals Inc. said Thursday it
will collaborate with the University of Newcastle Upon Tyne and the Cancer
Research Campaign Technology in England to develop a new class of cancer drugs.
Agouron Pharmaceuticals (AGPH) said the alliance's goal is to develop drugs
that can enhance certain chemotherapy agents and radiation therapy used to
treat certain tumors caused by the mutated p-53 gene.
Under the agreement, the Cancer Research Campaign licensed to Agouron
prototype inhibitors of an enzyme that is believed to help certain human
cancers evade current drugs.
Agouron's first commercial product, an AIDS protease inhibitor called
Viracept, went on sale earlier this year.
Copyright (c) 1997 Dow Jones & Company, Inc.
All Rights Reserved.
Symbol(s): AGPH
Kindest regards to all,
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