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Strategies & Market Trends : Charts on Near Term Uotrends
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To: Chisy who wrote (229)2/24/2000 12:31:00 AM
From: Jibacoa  Read Replies (1) of 1404
 
XOMA: As you know, it formed a temporary double-top with the Hs of last Thursday & Friday (12.375 and 12.5 respectively)

It has recovered from the down-gap yesterday ( to 8). It needs to close above today's H (10 1/4) before it tries to test last week's Hs.

As you also probably know they are developing NEUPREX which is a derivative of human bactericidal/permeability-increasing protein and may have value in fighting bacterial infections.

They also have I-PREX which is a topical formulation for ophthalmic disorders, and MYCOPREX which is a fungicidal compound intended for systemic fungal infections.

In the last reported Q ended 9/30/99 their revenue fell 29% and the net loss although lower, was still 37.7 million.

The insiders, which own only 4% have bought some shares lately (1,000 ). The institutions, which hold 10% have reportedly bought 734,000 shares in last Q.

As you know their financial situation is not good. (Book value is $-0.16) and they have a pretty good size float of
53.3 million. They reportedly still had 22.3 million in cash in last Q.

In summary, it is a very speculative situation. Their products seem to hold great promise if they can get FDA approval and can bring them to market. The fact that the institutions have been buying lately is a good sign.

I would like to see it breaking last week's Hs, which was a new H since 1993. The March 1992 H was 24 1/2.

Good luck with it.

Bernard
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