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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: JOHN W. who wrote (2487)10/26/1997 7:58:00 AM
From: Randy Schmid   of 6136
 
Re stock selling - John and Steve. FWIW, I think options granted does not equal stock owned - all these execs have deep compensation ties to the future performance of AGPH. Per Steve's message, particularly, the dates of several of the stock sales were telling - 3 or 4 within 2 days, suggesting an annual ritual of some sort - perhaps options expiry. As has been pointed out before in discussions about sale of insider holdings, it doesn't presage anything in my view. These sales happened in early September, and the quarter was a blowout. There's nothing but upside going forward, even if the ride is more like a roller coaster.

We've all felt the financial pain of the stock dipping on every little piece of news that's even remotely perceived to be bad. I think we're overreacting to the same old ordinary process of taking some money off the table and diversifying.

Regards,

Randy
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