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Biotech / Medical : Biotech & Pharma.T.A,

BIB 82.35

-4.5%

Jan 8 4:00 PM EST

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To: Jibacoa who wrote (2411)	10/13/2008 4:59:27 PM
From: Jibacoa	Read Replies (1) of 3722

Looking at XOMA's spike today & trying to answer a question from MJ Today's spike to the $1.60 level(up 33%) on volume of 1,566,145, which was about 1.5x its ADV seems to have been due mainly a reaction to the general market & short covering, since the recent short position was about 11x the ADV, having gone up 4% lately.<g> From the fundamental point of view, things don't look too rosy since it had been trading close to 600xBV, the revenues on the 2ndQ were down 21% & the EL for 2008 is > 300% the $0.10 loss in 2007 Only recent positive thing I remember is that last month it received a contract from the INH for $65M for work on its research on treating botulism poisoning. With the market's change in mood, it is possible that it will test the resistance from Thursday's H at the $1.73 level, but it seems that it will need further short covering to be able to test its more important resistance above the $2 level.<g> bigcharts.marketwatch.com It has further, considerable resistance at the $2.50 level & I doubt it should be able to retest the Oct2007 H of $4.40 this Yr. <g> bigcharts.marketwatch.com Bernard

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