Sonki, here is a write up about Amgen. Part of what I was telling you earlier:
Serving MicroMidcap Investors Since 1960
Thursday, August 21st
Contributing Editor Chuck Strain on Ultra Petroleum Corp. (UP -
Vancouver) concludes as follows:
"Ultra has positioned itself as a major player in the emerging
Lance formation gas production play in the northern portion of the
Green River Basin in Southwestern Wyoming. We anticipate that
successful development of this play could increase the net asset
value of Ultra to more than $50 per share in the next few years.
Note however that Ultra is pioneering the application of new
technology and techniques in an area where commercial
production has not been achieved in the past so realization of our
$50 per share target is subject to considerable risk associated
therewith."
Read the full 13 page Strain report.
Edited by Anne Straton, Associate Editor
Anne Straton reporting:
Westergaard Online has recently
redesigned the Westergaard Year
2000 website -- the place to go for
critical analysis of the economic,
political and social issues surrounding
the Year 2000 Computer Problem.
Edited by Westergaard Online Senior Associate
Adam Kaplan, the site includes articles on the economic and
investment implications of Y2K, in addition to weekly features like
"Investment Insights" with Year 2000 investment expert Tony Keyes
and the "Washington Interpreter" written by Westergaard Online
President John Westergaard. In today's issue of "the Latest" on the
Westergaard Year 2000 site, Tony Keyes recounts the Senate
Banking Committee Hearings on Y2K, and analyzes their investment
implications. Read all about it.
Analyst Jay Abella takes a look at the latest biotech news,
and introduces coverage of Bradley Pharmaceuticals (NSDQ:
BPRX).
Jay Abella Reporting:
SuperGen (Nsdq:SUPG) announced the closing of a
self-managed private placement of unregistered common
shares for approximately $8.8mm. SuperGen said the proceeds
would be used to fund ongoing operational, product development,
and product acquisitions costs as well as strengthen its balance
sheet. The company now has approximately $20 million in cash and
equivalents.
Investors are beginning to revisit biotech stocks again in
advance of the September / October sales season. Many stocks,
which have looked attractive from a technical standpoint particularly,
are beginning to gain momentum. This is especially true with two of
our companies, Cel-Sci (HIV:AMX) and Nortran Pharmaceuticals
(NRT:Vancouver). Both should have significant news on milestones
in the coming months.
The Tuesday Reuters piece entitled
"Drug setbacks weigh on biotechs
struggle for respect" is support, although
truant, to the biotech summer doldrums piece
I published here on Friday the 15th. The
article, laden with quotes from sell-side
analysts, summarily states that the number of product failures and
dissapointing sales figures have not attracted the money presently
being put into large cap issues.
I also chronicled on Aug 15 the sell side's inability to mirror the gains
seen in the broader averages. The reason for their performance can
be summarized in two words - RISK MANAGEMENT. If the big
banks contiune to finance and promote 80's style management, they
will continue to underperform the averages in even the slightest bull
markets.
Guilford Pharmaceuticals (Nsdq:GLFD) announced an
agreement with Amgen Inc (Nsdq:AMGN) in which Amgen will
gain worldwide rights for Guilford's FKBP-neuroimmunophilin
ligands, believed to be a new approach in the treatment of
neurodegenerative disorders. Guilford said it will receive a total of
$35 million in rights payments upon closing. This includes a $15
million cash signing payment, $15 million for purchase of Guilford
equity, plus a $5 million purchase of 700,000 warrants exercisable
at 150 percent of the purchase price. Amgen will also provide $13.5
million over three years to support research activities, will pay for all
clinical development and manufacturing of products, and will market
products worldwide. Guilford could receive up to $392 million in
milestone payments if certain indications were successfully
developed to approval.
The numbers notwithstanding, we believe that the
Guilford/Amgen deal is meaningful to GLFD shareholders
because of the way it is structured. The "funny money" portion
is downplayed (notice the press release does not say
"Guilford signs 392mm deal with Amgen)." There is a substantial
payment to GLFD up front, an equity stake, incentive warrants, and a
development/marketing arrangement. If only all biotech deals were
this fairly constructed and reported......
Feedback to Jay@westergaard.com
Wednesday, August 20th
Contributing Editor Chuck Strain on Ultra Petroleum Corp. (UP -
Vancouver) concludes as follows:
"Ultra has positioned itself as a major player in the emerging
Lance formation gas production play in the northern portion of the
Green River Basin in Southwestern Wyoming. We anticipate that
successful development of this play could increase the net asset
value of Ultra to more than $50 per share in the next few years.
Note however that Ultra is pioneering the application of new
technology and techniques in an area where commercial
production has not been achieved in the past so realization of our
$50 per share target is subject to considerable risk associated
therewith."
Read the full 13 page Strain report.
Edited by Anne Straton, Associate Editor
Anne Straton reporting:
Westergaard Internet Broadcasting Network
(WIBN) posts $5,000 reward for information
on "Steve Pluvia", the Silicon Investor
Registered Pen Name of a person, or
persons, circulating disinformation designed
to drive down the price of Premier Laser
Systems (PLSIA) common shares. WIBN
(www.wbn.com) will pay $5,000 to anyone who
provides the most complete dossier on "Steve
Pluvia". Information should include name, work
and home addresses, co-consipirators, names of hedge funds or
other parties on whose behalf "Pluvia" is acting, and any other
information relevant to determining the activities and motives of the
subject. Dossiers must be submitted to WIBN by noon Wednesday,
August 27, via fax 212-947-6643, e-mail to john@westergaard.com,
or registered mail to Westergaard Online Systems, Inc., 560 W 43rd
Street, NY, NY 10036. Westergaard Online reserves the right to
judge the best dossier, and to make no award if no satisfactory
dossier is submitted.
This service is one arm of WIBN which has been designed to
continually sweep the Internet to identify parties such as "Steve
Pluvia" engaged in circulating rumors, fraudulent or intentionally
misleading investment information or analysis for financial gain,
competitive advantage or other purposes. WIBN will be formally
launched September 4.
In yesterday's Daily Interpreter, we alerted
our readers to the scheduled launch of the
Westergaard Internet Broadcasting Network
(WIBN) September 4. We listed the inauguration of
four companies on the new site: Vishay
Intertechnology (NYSE:VSH), Identix, Inc. (ASE:IDX), Premier Laser
Systems, Inc. (NASDAQ:PLSIA) and ICC Technologies (NASDAQ:
ICGN).
Numerous other companies have also subscribed as member
affiliates, and we are pleased to report their inclusion in WIBN as
well. New member affiliates include: ACTV (NASDAQ: IATV); EA
Industries (NYSE:EA): ETS International (ASE:ETS); Flotek
Industries (VSE:FTK); International Absorbants (NASDAQ:IABSF);
Life Medical Sciences (NASDAQ:CHAI); Pioneer Healthcare
(NASDAQ:PIHC); Pre-Paid Legal Services (ASE:PPD); Quest
Medical (NASDAQ:QMED); Quixote (NASDAQ:QUIX); and Williams
Controls (NASDAQ:WMCO). We look forward to continuing our long
standing relationship with each of these new member affiliates.
In entertainment news today, BIG
Entertainment (NASDAQ:BIGE), ABC
Pictures, and the C.P. Group signed an
agreement to develop a four hour
mini-series for ABC television. "Tom
Clancy's Net Force" - a thriller about
electronic-based terrorism and crime with
worldwide catastrophic effects - is property of
Netco Partners, a 50/50 joint venture between
BIG Entertainment and the C.P. Group, Tom
Clancy and Steve Pieczenik, a Harvard trained psychiatrist. The
series will air on ABC in 1998.
This agreement represents BIG Entertainment's second joint effort
with ABC, Inc., and its fist major foray into primetime network
television. Three of Tom Clancy's previous novels, The Hunt for Red
October, Patriot Games, and Clear and Present Danger, have been
worldwide box office and video blockbusters, generating revenues
of over $1 billion. Looks like things are getting BIGGER and
BIGGER at BIG.
Tuesday, August 19th
Edited by Anne Straton, Associate Editor
Anne Straton reporting:
Westergaard Online is pleased to announce
today, the signing of a strategic licensing
agreement with Santa Ana, CA based Alpha
Microsystems , in which Westergaard Online will
use Alpha Microsystems AlphaCONNECT
technology (including Business Vue and Stock Vue) as a feed for
the new Internet channel, Westergaard Internet Broadcasting
Network (WIBN). WIBN (www.wbn.com) will function as a one stop
shop, making it easier and faster for investors, stockbrokers,
analysts and portfolio managers to gather current and historical
information on micro, small, and midcap companies online. The full
text of the announcement is available at the Alpha Microsystems
site.
In a related story, Westergaard Online plans to launch the
Westergaard Internet Broadcasting Network WIBN on
Thursday, September 4 at the 3rd Annual Westergaard
September Conference at the Waldorf Astoria. WIBN will be
inaugurated with coverage of four companies: Vishay
Intertechnology, Inc. (NYSE:VSH), Identix, Inc. (ASE:IDX), Premier
Laser Systems (NASDAQ:PLSIA) and ICC Technologies
(NASDAQ:ICGN). A wide range of additional companies will be
added to the new network in stages, following the September 4th
launch.
Jay Abella warns investors not to
succumb to the temptations of the
"Geron effect". Abella begins his
report,
A predictable offshoot of the "Geron
Effect" has occurred on the Cel-Sci
(AMX:HIV) message board. Owners of
that stock are getting restless for their
ship to come in, just like they have
seen with Geron. They want their fast
buck and are not at all pleased with HIV for conducting clinical trials
from which data is not generated in an hour or less. They are losing
big money in the brokers game by holding HIV, especially if GERN
turns over its float for the 4th time today.
In yet another attempt to differentiate an investment from trade, I
write the following on the HIV message board at Silicon Investor. It
applies to all of the stocks we follow.
Read on to discover how to avoid the pitfalls and temptations of the
"Geron effect".
Monday, August 18th
Edited by Anne Straton, Associate Editor
Anne Straton reporting:
Today, Boca Raton based BIG
Entertainment reported earnings of $185,210
for the second quarter of 1997, or $0.03 per
share, as compared to a loss of ($1,323,283) or
($0.24) per share in the same period last year.
These earnings resulted in BIG's first profitable
quarter, reflecting an increase in revenues in the
Company's licensing and retail businesses. Net
revenues for the second quarter 1997 increased
by 98%, to $3,730,067 from $1,888,275 in the second quarter 1996,
an increase of $1,841,792. During the first six months of 1997, net
revenues increased by 59%, to $5,437,389 from $3,423,898 in the
fist six months of 1996, an increase of $2,013,491.
CEO Mitchell Rubenstein noted, "We are pleased to report that BIG
has become profitable in the second quarter. I continue to
emphasize that the value of BIG is primarily in the underlying value of
the Company's brand name entertainment properties, in which we
own or control the right to license to other media companies the
book rights, TV rights, movie rights, online and other interactive
rights, toy rights and merchandise rights generally. In our view, this is
a unique situation..."
BIG Entertainment is a diversified entertainment company, which
owns exclusive rights in all media to certain entertainment properties
created by best selling authors and media celebrities, including
Leonard Nimoy, Tom Clancy, and Issac Asimov.
Jay Abella reporting:
The "Geron Effect" is a result of one of the
best hype jobs in biotech history. Two weeks
ago, I defined the SkarKare phenomenon to be
a massive run up of a biotech stock price based
on news having a marginal material impact on
the fundamental health of a company. This
phenomenon has been exemplified again, this
time so egregiously, that the SkarKare
phenomenon requires redefinition. THE
GERON EFFECT has officially been born.
Menlo Park, CA based Geron, Inc.
(Nsdq:GERN) is a biotech company focused on
discovering and developing therapeutic and
diagnostic products based on the Company's
understanding of telomeres and telomerase,
believed to be fundamental biological mechanisms underlying
cancer and other age-related diseases. On Friday the company
announced that a team led by Nobel laureate Thomas Cech of the
University of Colorado, Boulder, found a gene which makes a
protein that is an essential part of telomerase, an enzyme that allows
cancer cells to grow without restraint. Importantly to Geron, the
discovery also provides new directions for studying the aging
process, which is directly affected by the death of individual cells.
Activity in Geron stock was incredible Friday, as investors
interpreted the news release to mean that the company just found a
potential cure for all cancers and, better yet, a cure for the most
dreaded disease of all, human aging. Investors' interpretation was all
wrong, and we'll tell you what is REALLY going on.
Feedback to john@westergaard.com
Feedback to john@westergaard.com
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