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Biotech / Medical : XOMA. Bull or Bear?
XOMA 25.710.0%Jan 27 3:59 PM EST
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To: dwight martin who wrote (10860)7/22/1999 10:39:00 AM
From: Thomas J Pittman  Read Replies (3) of 17367
 
re: July 22, 1999--XOMA Ltd. (Nasdaq:XOMA - news) today announced it has sold 3.0 million common shares in a private financing for gross proceeds of $17.4 million. Sutro & Company and Arnhold & S. Bleichroeder served as placement agents for this transaction.

I dont usually jump on the 'bash the wall street types' train, but
wasnt it just a few weeks back that sutro and co issued the
strong buy thing on xoma. I suppose there are a couple of
scenarios that could have led to that

1) in educating themselves on the co. they were doing this business
with they just learned what a great co. XOMA is, came up to speed
on bpi and came to the conclusion that here was a company of great
promise for their investor customers -- regardless of this other
business of selling the shares.

2) they wanted to drive up the price so they could sell the shares
at a higher price and who gives a damn after that?

I wonder which it was.

J

J
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