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Biotech / Medical : QLT PhotoTherapeutics (QLTI)
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To: John K_k who wrote (66)1/22/1997 5:10:00 PM
From: Neville Doherty   of 1321
 
John
I don't think the hiring of the new head per se will do much. What's critical are the findings of the clinical trial of BPD-MA. And we won't know that for a while, but believe me it if continues to look as promising as it has, then we are in for one big rise in the stock price. That red book estimate of $45 is probably perfectly reasonable.
One might ask if the new chief was seduced by the prospects he read into the experiments, or was it a matter of remuneration, or both of these? These guys are in big demand and quite expensive. So, it could be a good sign, but not enough to make much of a difference until we see some results. The steady upward move we've been seeing is speaking to quite a few buyers' confidence.
Mine too.
Cheers
ND
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