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Biotech / Medical : XOMA. Bull or Bear?
XOMA 26.87+1.3%3:59 PM EST
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To: Cacaito who wrote (11318)8/17/1999 11:44:00 AM
From: opalapril  Read Replies (3) of 17367
 
I know Ellen still has a fan or two here. Good. Everybody needs at least one friend. But she blew it on this one. Cacaito is correct. On the day immediately following the conference call, the IR person has NO BUSINESS commenting on the P-3 results OR the future stock price.

The conference call was the forum for discussing P-3 results. Castello chose not to do so and articulated as a reason his desire to maximize the chances of FDA approval. Draw your own inferences, as RobertK would say. But then, what's this business about Ellen following up with an interview of her own? What is she running, a shadow government?

As for saying she was quoted out of context about future uncertainty when she was really referring to the stock price -- "Hell's bells," as Archie said to Mehitabel, "That's an explanation not an excuse."

When an IR person opens her mouth to say the future stock price is uncertain the Wall Street version of the Heisenberg Principle states that this very comment will cause adverse market reaction to the stock price. The standard expression elsewhere is (and ought to be at Xoma) "We do not speculate about future market prices."

Ellen needs to have that tattooed on her forehead. What could she have been thinking?
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