Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.700

+4.7%

10:59 AM EST

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To: Dale Baker who wrote (7324)	8/10/2000 4:07:49 AM
From: Bill Wexler	Read Replies (2) of 10293

The GUMM stock promotion fraud admits failure and adopts a new stock promotion scheme: biz.yahoo.com The "drug delivery technology" scam has been employed by numerous phony biotech firms. What they usually do is take an existing generic medication and propose a new "delivery technology" which they will claim magically causes the medication to work on some widespread malady. They then file an NDA which inevitably gets laughed out of the FDA, but while the clock is ticking, the stock promoters pump it and dump it. This technique was used very effectively by one of my favorite shorts: Zonagen (ZONA) and with some limited succes by another stock I shorted: Macrochem (MCHM). Zonagen attempted to piggyback on the success of Viagra and the excitement surrounding the ED field by claiming that a 50-year old generic heart medication named phentolamine would cause erections if it was taken using Zonagen's "proprietary delivery technology"...namely, a pill you swallow. Small investors lost millions. I strongly caution investors to think twice before buying shares of GUMM.

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