Procept (PRCT): 50% rise on high volume. Why? Message Board

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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why?

PRCT 30.75

-1.8%

Nov 12 3:59 PM EST

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To: Gerald Thomas who wrote (71)	4/5/1997 4:36:00 PM
From: Douglas	of 455

Thanks for posting the e-mail. I would like to know how they define a "number of factors". Lack of cash and any potential partners are probably two factors. Hopefully, Procept will release the results(positive or negative). Page 19 of their 10-k of says that the company expects its current funds, interest income and equipment lease financing will be sufficient to fund Procept's financial needs into the third quarter of 1997. The 1996 balance sheet showed $6 million in liquid assets. Minus what they have spent in the first quarter of 1997 I estimate end of 2nd quarter. Phase I human clinical trials won't be supposedly finished to end of the 2nd quarter, with results announced in the 3rd quarter. Very little time left. EDGAR shows no offerings of new stock. Maybe a private placement? They need additional funds ASAP.

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