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Biotech / Medical : Paracelsian Inc (PRLN)
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To: helkel who wrote (1391)1/25/1997 1:24:00 PM
From: John H. Farro   of 4342
 
Kelly, I sure hope you are wrong about this, but I can't totally discount this possibility. One thing to remember though: It is true that Travellers (aka SB) owns a large percent of Paracelsian. However, Prln only makes up a very small percent of their assets. I am sure that Travellers is not too happy about where PRLN's stock price is right now, but PRLN is still relatively small potatos for them. I doubt they would fixate so much on PRLN as to invite them to the conference just so they can arrange an increase of a few dollars in the stock price so they can sell the stock. I think there is an excellent chance that PRLN will either be bankrupt in a year or they will be a $20 - $40 stock in a year. If the conference can get PRLN's share price up to $5 then PRLN will be in a good position to raise more money by another private placement of stock. Hopefully they will be in a better position to attract new institutional investors than they were last year because they will be on the eve of a product rollout. If this is the case, it does not seem logical that Traveler's (SB) would be willing to sell most of their stock just before PRLN hits a home run.

Of course, I could be wrong. Harvey, how do you know it was Traveller's behind the sale of that 25,000 block and not someone else? I'm not sure I understand why Traveler's would sell the stock now, rather than wait for the potential boost of the conference. I hope they are just figuring a bird in the hand is worth two in the bush. I sure hope that whoever sold that stock doesn't know something we don't know.

Robin
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