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Biotech / Medical : Alseres Pharmaceuticals

ALSE 0.00500

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Oct 18 5:00 PM EST

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To: SR/WA who wrote (13)	6/20/1996 12:41:00 AM
From: Jack L. Dlugach	of 975

Therafectin is a drug that Greenwich brought as far as stage 3 clinicals before they ran out of money. It seems to hold some promise for people with rheumatoid arthritis on a molecular level, and also showed some promise in fighting other immuno-supressive disorders. I wouldn't call it the "big one" since BLSI has a number of other exploratory drugs in the pipeline...there's some optimism on several of them. BLSI is a speculative biotech stock only in the sense that any small biotech company is very speculative. These companies eat up the cash as fast as it comes in and most of them don't have any sales revenues. But if the payoff comes, it can come really big. Remember, Amgen was one of these companies a few years ago. And like I said, the fact that a huge pharmaceutical company like Zeneca took a stake means there must be at least one drug in the pipeline that has potential. At any rate, I only paid a small amount for the old GRPI stock that converted to BLSI, so if they go bust it'll be a little tax write-off.

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