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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: I. Luttichuys who wrote (524)4/1/1997 5:50:00 PM
From: Zoran   of 1762
 
Bennett,

Since you are familiar with IDPH I'll ask you a few questions about it. I don't neccessarily agree that high Oct. call position is an indication that stock will go up by then. My impression is that writing calls is a bearish sign. Another issue I don't like is that the float is only 58% of shares outstanding. This means that there will be a severe selling pressure on every significant uptick. Last week insiders dumped 713 kshares for 19.39 M$. Also, open positions for April options indicate that the stock will go below 22.5 on April 18. Genentech license fee is a Q4 income so it is not going to boost earnings in Oct.
Frankly speaking, right now IDPH looks like a short candidate and I wouldn't buy any calls before it retests the $14 level.
Comments welcome,
Zoran
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