ArQule Message Board - Msg: 1140763

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Biotech / Medical : ArQule

ARQL 20.00

0.0%

Jan 16 4:00 PM EST

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To: Dr. John M. de Castro who wrote (59)	4/7/1997 2:42:00 PM
From: James Silverman	of 399

John, The $12 level was important because that was their IPO price 6 months back. I think it was probably important for them not to break that level. Another reason to forge ahead is that the overhang of a secondary would have lingered. Given they would have tried and failed, the market would have been well aware that when the price stabilized another shot at the secondary would have been attempted. Hence its possible the shares would have been affected by this. Still only 11M shares outstanding and just under $60M in the bank, the stock looks good to me. Hopefully the money will be well invested and Hopefully no need for another secondary for a long time is an upshot.

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