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Biotech / Medical : Sepracor-Looks very promising
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To: IRWIN JAMES FRANKEL who wrote (3750)10/7/1999 8:58:00 AM
From: Biomaven  Read Replies (1) of 10280
 
ij,

I follow GLIA pretty closely - perhaps more accurately, I follow Rick Harmon closely and he follows GLIA very closely. <g>

This was another example where the shorts got the letter ahead of the public - it was first disclosed on the Yahoo thread. Company only made a disclosure ("we are working closely with the FDA ...") when the news had already pretty much broken and the stock was down sharply. I think companies haven't adjusted to the internet age, where bad news needs to be confronted much earlier, instead of the old style of keeping quiet and hoping it would be resolved by the time that people find out about it.

On GLIA itself, I think it is a buy at these levels, but not for the faint of heart. I own a little and added a little more yesterday. They are basically profitable based on their spinal surgery anti-adhesion sales, and have a nice neuro pipeline, as well as anti-adhesion products for other areas.

Risk right now is that they won't get the FDA squared away before they run out of stockpile - looks to me like this was largely a manufacturing paperwork issue. People's confidence in management is somewhat shaken, as they feel management wasn't upfront with them about this problem.

Ther have been some active GLIA shorts on Yahoo for a few months. I think they probably just got lucky here, but don't know for sure. (Maybe they just were smart and very well-informed).

Peter
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