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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE
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To: Vip who wrote (58)4/10/1997 2:09:00 PM
From: Joseph Ziebarth   of 670
 
Vip ... Ken... I can't believe I'm holding a stock that is down more than 50%.

Every book I used for getting started said to sell if a stock changes its fundementals and drops more than 10%. Even a 20% loss would be a good enough signal to get out.

I followed (not owned) PRCY when it was $17 1/2. Because they are local to Puget Sound I was hearing from other research persons that they had great staff. Just before I was to buy-in the FDA relased the failure during the last stage of their drug test.

I watched this stock and saw a breakout beginning when the wound dressing got FDA approval. So I bought in at $4. Because I thought I really knew the quality of their staff I put 30% of my taxable portfolio into this one. Really dug a hole for myself.

My research friends are not hearing from PRCY and the yearly report indicates that about 4 million in grants has been cut. I'm just going to wait this one out and rely on hope.

For what it's worth ... if my opinion can be trusted at all ... we have another company here NPTH that is going to grow. The object of the company is to automate pap smear tests. Currently someone spends all day at a microscope ... really a source of errors. They have first scan approval in Japan. My engineer source says Japan doesn't test for as many factors as USA. A recent news release said lives were saved in LA using autopap as a second scan. I'm buying in while it trades in the $14 to $18 range. So far I got some at $12.75 and $14. There are warrents but I haven't looked into them ... for $6 buy-in I think.
Joe in Renton
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