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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer
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To: scaram(o)uche who wrote (154)9/11/1997 6:39:00 AM
From: David Cathcart   of 1826
 
Rick,

I don't think 5 will offer much price resistance. Virtually all of the 1.2 million shares sold at the stock offering last year were sold in large blocks to knowledgeable investors who had done much of their own research. These investors have met Blitzer, Adam and Muscoplat and are well aware of the potential of MGI, as well as the unusual circumstances that have kept the stock price depressed. 5 could actually be a springboard. Below that point most institutional investors won't even look at a stock. It is also the threshold that opens up margin buying with many firms.

6 - 6¬ could be another story. That was the price the stock hit last year with the first announcement of the NCI involvement with MGI 114. The NCI news was mentioned on the Motley Fool and it is likely that some "fools," there and elsewhere, got onboard without knowing anything more about the company. All they know is that they bought stock in some esoteric company at sixish and it hasn't been there since.

Can you shed any light on the question from my Sept. 9th post (#144) regarding the human/mice equivalency ratio? Thanks.

One more thing...SALAGEN WILL BE APPROVED FOR SJOGREN'S BY THE FDA. If you can make a price point prediction... then I can make a FDA approval prediction. Others have already done the type of due-diligence work you intend to do in this area. When you look closer, I think you will agree.

By the way, I think your 7 - 8 target is low.

David
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