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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI)

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To: Jeff Lee who wrote (72)	9/14/1996 10:03:00 AM
From: Tara Cobble	of 1154

Yes Jeff you are absolutely correct that is the rating by Smith Barney. (can you tell me how you found this out, via Internet?????) Anyway this is my "semi-intelligent" spin on the rating so take it at whatever value you deem reasonable worth 2 cents or not worth a penny: Smith Barney (big broker house) starts to follow an established Genetic Biotech firm that has been in business for some time and appears to be breaking out big time with signed ventures with large Phar. firms, but GENE is still a "baby" when it comes to following on the street. However, GENE is now in 14 mutual funds pockets and all the good stuff really took off from mid to late last year with firms buying in during 1996. So, Smith Barney decides to start coverage of GENE and being somewhat conservative with big reputation on the line they start out with coverage of neutral-venture. Why do they do this (my thoughts): 1) Because they are beginning coverage of a stock in a very volatile industry, based on news more often than financials (the industry that is). 2) Because they are one of the first big firms (also don't forget Oppenheimer) with a lot of customers that depend on their advice and reputation. 3) Because they want to initiate coverage but also want to spend some more time to furher evaluate before next rating level. My broker and I talked about this rating in depth and both had the same feeling about this being extremely positive (spoke with him the day that I posted information). We both felt this will attract more shareholders via Smith Barney, and more visibility to Wall Street etc... Also don't forget I have heard from many people that buy when the ratings are neutral and the outlook is extremely positive. Why, because when the ratings become buy or strong buy, you should have bought long ago. And when the rating becomes sell, you should have sold long ago. The smart (or lucky) people have bought into the stock before all the positive news and ratings come out on companies and is a matter of patience and luck and belief in the management and technical expertise of a company. I see no reason to doubt GENE looking back at agreements and speed of achieving Milestone Payments. (warning all these statements are forward looking and are my just my opinions gathered from random readings and crazy thoughts) I read on another thread that I follow that all statements we make on the Internet should be followed by some statement with some sort of SEC jargon, and I couldn't resist. All your investments are your responsibility and should be done after extreme due diligence and a flight to the moon or mars. Tara (not an English Teacher as you can tell)

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