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Biotech / Medical : VICL (Vical Labs)

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To: William Strop who wrote (340)9/8/1997 11:33:00 PM
From: Rainforest   of 1972
 
Bill & all: Here is a recent communication from A. J. Abella, a biotech analyst on the Westgaard Co. website. He asked for subscribers to write him about biotech companies that they thought "managed risk" well and I told him about Vical. This was his reply:

Jim:

I have known the company for years, in fact I wrote my initial equity
report on them at $7.00. You are correct for liking them, they are
first class from inside the company to their ownership. They
manage risk well, through collaborations and in house programs. I
will be clarifying that next week in a long piece ihave written on
risk management.

VICL has been sliding recently, but voloume has been weak. I
have a call into Alan Engbring right now to discuss. VICL is valued
appropriately in the 12-14 range. I am however, not wholly impressed
by both the Leuvectin and Allovectin data I have seen. More work on
those scores need be done. They are getting responses in some people
which is encouraging. Unfortunately there is considerable risk to
VICL on the therapeutic side.

On the vaccine side, business sails along as usual, with VICLs
collaborators continuing to benefit from the genius of VICL
technology.

Not many events to drive the stock though. Its tough therefore to
maintain interest in it.

I appreciate your interest in our site.

FJA

---------------------------------------
F.J. Abella
Senior Associate
Westergaard Online
westergaard.com
jay@westergaard.com
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