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Biotech / Medical : CYTO
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To: Jim Oravetz who wrote (7887)7/12/2000 8:05:13 AM
From: Jim Oravetz  Read Replies (2) of 8116
 
From SI Profile: Advanced Magnetics, Inc. develops, manufactures and markets organ-specific contrast agents to improve the diagnostic capabilities of soft tissue magnetic resonance imaging ("MRI") scans. For the 6 months ended 3/31/00, total revenues fell 65% to $1.1M. Net loss decreased 28% to$2.5M. Results reflect the absence of sales from Kalisto and a reduction in sales of securities, offset by a reduction in company-sponsored R&D expenses

Street did not like the merger news - i.e. CYTO price hit. IMHO, it is a good fit for CYTO. They need cash and Adv. Mag has/had an eye popping Current Ratio of almost 24! They are loosing money, but have two approved products. The one that seems on the verge of approval with what seems to be significant potential. Lymph node screening for cancer cells is a needed product.

Jim
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