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Biotech / Medical : Texas Biotech (TXB)
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To: Larry Liebman who wrote (792)9/25/2000 9:30:52 AM
From: opalapril   of 834
 
Four things occur to me, based on my imperfect information.

First, apparently TXB is a very small cap below the radar of many funds. Second, they have these nasty warrants outstanding which exert downward pressure on the stock. Third, the company has not been as clear or compelling as it could have been about Novastan aka Argatoban aka ? (there is some unverified info out there that the drug's name will be changed yet a third time) and its time-to-market. The timetable has slipped at least twice. Fourth, it may be a hard one for quantifying earnings -- 'speculation' is needed, as you say -- so maybe potential buyers are waiting for stronger indications of sales interest.

Yes, TXB has been a short-term disappointment in its seeming inability to increase the stock price. At the same time it has held fairly steady in resisting downward pressure. I'm no market maven but it looks to me like the stock price suffers from a lack of buyers and a lack of sellers.
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