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Strategies & Market Trends : Wire to Wire Daily Stock Picking

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To: Jeffrey L. Henken who wrote (2270)	7/25/1999 6:17:00 PM
From: Mike McFarland	Read Replies (2) of 3514

MAGN - Mike McFarland - Float 14m -3 1/4 x 3 1/2 FDA aprvs Pex. I've no idea whether it will be approved or not, a total crap shoot...and my shares are paid for no matter what happens. There is a chance the decision will not come on Monday...but it should. If Locilex/Pex. is approved as a topical antibiotic for diabetic foot ulcers it will be on the order of a 200M/year drug and MAGN should trade in the teens later this year. If not...I see 1 1/2 as the bottom...they still have Squalamine--an anti- angiogenesis inhibitor in phase II lung cancer trails. See the thread for the precise details. Yahoo folks see this in the 30's on approval, nice, a ten bagger. I could be low on my upside target. Multiples of sales can get crazy when a ship comes in, but I find it hard to swallow that it would be trading at 3.5 when the odds are 50/50 of this being a ten bagger. I'd be real happy with $10-$12. Since I last visited the thread, NTII is still around 1 1/4...and IMHO, still a bargain if you don't mind the spread...but it is not tradeable.

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