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Biotech / Medical : ONXX
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To: Charles Tutt who wrote (630)9/23/2000 11:58:29 AM
From: Mama Bear  Read Replies (2) of 810
 
"Come back when a product is imminent and see what a share will cost you."

Assuming that you change the word 'when' to the word 'if' the same argument be made of any development stage biotech. Or almost any development stage company. They're all going to be the next _____. Unless one has specialized knowledge of the industry it makes much more sense to wait until the odds are much improved, especially with a company that has a limited pipeline. If the clinicals fail, the stock is toast. Take a look at CLPA on Monday to witness the carnage of a company with a limited pipeline which gets a non-approvable letter from the FDA. An alternative is to pay someone who understands the industry intimately. That's how I get my exposure to development stage biotechs. My strategy also allows me to have a small portion of my money in private biotech companies. Of course a diversified portfolio of development stage biotechs could pay off with above average returns. But you still need some edge to weed out as many of the losers as you can.

Buying ONXX without an edge at this time is gambling, IMO. Especially in the face of those with an edge lining up to sell. Even if the bet pays off in the future, it won't prove it wasn't gambling.

Regards,

Barb
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