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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: Bill Wexler who wrote (1245)6/26/1998 4:58:00 PM
From: Hank  Read Replies (1) of 4634
 
Bill,

I would like to recommend a possible future addition to your DOOM index if I may be so bold. Viropharma (VPHM). This is a small biotech company that specializes in the discovery of drugs that inhibit RNA viruses. They have one lead compound in clinical trials (can't remember the name) that is supposed to work against Rhino virus (the cause of the common cold). The problem is that there are over 100 different rhino viruses and their drug only works against less than half of them in the laboratory. Consequently, they are trying to pawn this drug off as a treatment for viral meningitis and for severe asthmatics with colds. Both very narrow markets with low profit potential. Furthermore, I hear that they have been trying to out license potential flu and hepatitis C drugs to big drug firms for development. The word is that in other companies hands, these drugs are inactive even though VPHM has claimed activity in the lab. A sure sign they trying to scam useless drugs for big drug support much the same way ZONA successfully duped SGP. They have a fair amount of cash in the bank but their profit potential is bleak IMHO. They are currently trading in the 20's but they are barely worth $5 given the lack of a block buster drug candidate. I've also noticed that their short interest has jumped dramatically in the last month to 150,000 which is about 4 or 5 times what it was in the previous month. Just one to keep in mind. My short term price target for this stock is $10 or less.

Hank
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