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Biotech / Medical : Biosource International

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To: mojave who wrote (122)	5/27/1997 11:58:00 PM
From: Night Trader	of 696

The bioi IR person is called Aspacia and I found her very helpful and informative when I toured the facility last year ( I live 50 mi away in Santa Barbara). I got an E-mail from her today in fact and I hope she won't mind if I share some of it here: "BioSource is doing very well. We are pleased with how things are going thus far. We still seem comfortable with analysts expections of $.54 for the year barring any further acquisitions and not including any products generated from our Molecular DIagnostic program. However, that program is going very well. We shipped out the first half dozen of new Cytoexpress cytokine kits last February. We are about to launch the PCR kit for Cyto-meglo Virus if all the results from our beta sites go well. We expect the results sometime this week or early next. This particular product is very important for us as there is a huge cry for this product as none currently exists. So needless to say, we are all keeping our fingers and toes crossed the next two weeks. Regarding the breast cancer PCR kit, that is going along nicely. We hope to have a kit developed and ready for beta sites end of third quarter, beginning fourth. Of course all this is forward looking and as we hope it is a success, it is risky which means something could happen and the projects could not come out as we hoped. But thus far all looks good. As you know we are sitting on a lump of cash. An acquisition certainly would take care of some of that. Though we have looked at a few companies, none have really made us sit up and take notice. We would like to get our Molecular Diagnostic program launched successfully. That is the area we are focused on right now. When we do find serious acquisition, we would do it for cash and not shares. We also have implemented a stock repurchase plan. The Board of Directors approved a plan to repurchase 200,000 shares of stock. This will enable us to repurchase stock on the open market that will off set excersied options from the previous quarter, and take more stock out of the float. It also shows we have confidence in our Company and we think it is unfairly valued." Hope you found this of some help. Martin Knight

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