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Biotech / Medical : Texas Biotech (TXB)

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To: Brander who wrote (337)	10/5/1997 8:18:00 PM
From: sam	of 834

A broker at PaineWebber provided the report to me. Elise Wang is the biotech analyst there. I've read other reports by her (namely AGPH) and she seems knowledgable to me, but I have no idea what her track record is. But Ive been asking the same question as both of you: why wasn't the report picked up by the business wire? I will ask my broker tomorrow. He LOVES this little company. Now Im thinking out loud: Maybe there wasn't enough appreciation in the stock to warrent a story. Or maybe PaineWebber wants to push the stock to their people before pushing the stock on to others. I just don't know. But I do know this, both LEH and PaineWebber think this is a great value at these prices. Wang thinks this is a 9 to 11 dollar stock NOW -- before Novastan approval. Be that as it may, biotechs are very risky plays. Personally, I think that if TXB can keep above $5.00 during the next few weeks we'll be in great shape. Unless, of course, the FDA throws us a curve balls (very unlikey in my opinion). Or inflation starts to rear its ugly head and the market tanks.

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