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Biotech / Medical : Texas Biotech (TXB)
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To: Bill Wexler who wrote (443)12/26/1997 6:26:00 PM
From: X. Fang   of 834
 
Thank you very much for the quick responding. I still have a few more things to be clearfied.

1. Where is the TBC11251 from if they don't do in-house research?

2. I can't agree with your explanation about analysts at Lehman. As sell-side analysts, all they rely on is the good relationship with their top clients, in other words, their ability to sell IPOs. Lehman made less than $2 million on TXB 2nd offerring. Why does an analyst risk his raputation, which is the most important thing to his career, on a scam company for only bringing in $2 million which is probably less than his annual salary?

3. Could you give me some hard evidences on which you think Novastan Phase III trial was faulty and not statistically significant? From the company press release, those numbers looked to me very significant. Novastan has been successful in Japan for over 3 years, how could it fail in US?

I will do more studies on ZONA and ARNX.
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