FDA THRESHOLD: LOWER-RISK BIOTECH INVESTING Message Board

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Biotech / Medical : FDA THRESHOLD: LOWER-RISK BIOTECH INVESTING

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To: Edscharp who wrote (26)	10/8/1999 7:02:00 AM
From: opalapril	Read Replies (1) of 75

Interesting company. BTW, I came away from Xoma with similar conclusions about how to play small biotechs as well as a reaffirmation in money-making larger biotechs like AMGN. I don't know about 10. That's a few too many for me to watch in one sector but spreading among several, for sure. One suggestion I've seen: buy twice as many as you want to hold and trade in and out of the excess. A simple buy-and-hold doesn't work. Yes, PFE is not a small biotech. But to my observation the principle worked the same way. I thought it was instructive that almost everybody (so it seemed) was watching Viagra's P-3, believed the many, many leaks about its progress and that it would come to a rapid and successful conclusion. The company's stock gently increased in price over a few months leading to approval, but it didn't really take off until afterwards. Even under the harsh light of nearly the whole investment community there was, in words, ample time to make a lot of money after FDA approval if you were nimble. Another expensive lesson from Xoma: if insiders aren't buying with reckless abandon, outsiders shouldn't be, either.

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