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Biotech / Medical : Paracelsian Inc (PRLN)
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To: John H. Farro who wrote (4166)2/4/1999 9:58:00 AM
From: John H. Farro  Read Replies (1) of 4342
 
I just spoke to Bernie Landes. He cleared up a few questions I had:

1) PRLN should be keeping its symbol. He was told by someone at Nasdaq that the Priceline IPO would be issued under the symbol "PCLN".

2)PRLN can not sell its symbol to Priceline since the symbol belongs to Nasdaq and is not Paracelsian's to sell.

3) PRLN will have to close above $4 for a certain amount of time (I forgot to ask how long) in order to be relisted on NASDAQ. The relisting requirement is the same as the initial listing requirement. A company must have a price above $4 for an initial listing. It only needs to maintain a price above $1 to remain on NASDAQ once it is there.

4) Though there is some technical legal discussions regarding the language of the contract with the Japanese firm, the partnership has been firmly established. Work with the Japanese firm with the Ah Immunoassay has alread begun! This is much more solid than a mere letter of intent to negotiate a contract!

Robin
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