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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: Brad C. Dunlap who wrote (556)4/5/1997 6:14:00 PM
From: I. Luttichuys   of 1762
 
Hello Brad, Thanks for posting. I would say that SmithKline's plant activity certainly is good to hear about and as you point out, represents a real "vote of confidence".
I also see that your insight on SmithKline's selling is similar to what I have been speculating and this makes me comfortable that what we
are seeing is just what you say it is... an intelligent way for SmithKline to fund what is certainly to be an expensive, but very profitable venture down the road.
By coincidence I was reviewing the information I have on the Biotech
conference just before I saw your post. I will be an excellent chance
for IDEC to reiterate to investors, some of the outstanding results they
have had so far. As you point out much will depend on the market direction in coming days and I was encouraged to some extent by Friday's session. For most stocks there doesn't seem to be a sell-off here but, more of a situation of low volumes and alot of buyers waiting on the side-lines.
One question: would it be normal for Merrill to sell in the quantities they are, if Eric Hecht had intention of initiating coverage on IDEC?
If these events are unrelated or only moderately related, perhaps we have an interesting short-term opportunity here. If they are, we nonetheless have the same long-term opportunity we have always had in my opinion and, stacking up today's price against some the EPS estimates we have been discussing of late sure makes today's levels look attractive for one who is long.
Hope you are having a good evening,
BENNETT
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