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Biotech / Medical : Biotech Derivatives

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To: Bob L who wrote (407)	9/20/1999 9:02:00 PM
From: LLCF	Read Replies (1) of 555

Called the company today... they told me: * shortly after the FDA rejected their submission the company asked for a meeting... in fast track will be granted within a month [coming up now]. * That meeting will be used to review exactly what the problem is and make sure they do everything right this time. * One month or less from this meeting we should see a re-submission. Although they've been working on it all along, they're probably being conservative... so submit by end of Oct. * Company says the stock starts ticking all over again as you suggest apon submission... to 60 days from end of oct.= year end we find out if it is accepted... hopefully before. * Then she did mention April as approval time frame. This is my understanding of the situation.... don't know why SB would buy a NOV. Vol position based on this! Even if we expect the stock to rally into the submission, etc... doesn't really make sense to buy vol... only stock or go long... interesting. DAK

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