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Biotech / Medical : Regeneron Pharmaceuticals

REGN 795.25

-0.1%

10:16 AM EST

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To: Miljenko Zuanic who wrote (92)	5/3/1997 4:06:00 PM
From: scaram(o)uche	of 3559

ArQule has plenty of targets. Many of their collaborations are for lead optimization, not lead generation. They are more than a CC company, and that's the beauty of their business plan. See if you can get a copy of the analysis from Mike King at Vector Securities. In my opinion, he's one of the best analysts, if not the best, in biotech. When ARQL said that the money was to be used for "acquisition", I think they meant additional screening capacity, not companies. I may be wrong, but any acquisitions would be limited to very early-stage technologies and private companies, IMO. Cheers! Rick

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