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Biotech / Medical : Paracelsian Inc (PRLN)
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To: Harold Stone who wrote (3849)8/12/1998 8:23:00 PM
From: John H. Farro  Read Replies (1) of 4342
 
Reading between the lines, it looks like the investment of the second $520,000 by Biomar was by no means a given. I am guessing that back in January the company was too risky for Biomar to invest the entire $1 million. Therefore they decided to invest half in January and leave the other half on the side. If the company made good progress, Biomar would invest the rest. If things started falling apart they would not throw good money after bad.

Paracelsian is still somewhat risky. No one should mistake it for Microsoft. However, PRLN has made great progress since January and compared to the PRLN of January, the PRLN of August is like the rock of Gibralter. I thought the company became much less risky after it signed the Scherer deal. It looks like the Campbells share my perception. This is reassuring.

Robin
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