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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: I. Luttichuys who wrote (927)5/28/1997 2:45:00 AM
From: Howard Hoffman   of 1762
 
Bennett, I'm also sorry to see you cash in your chips, but they are your chips.

I have owned one other biotech when it got its first FDA approval. That is Interneuron Pharmaceuticals. They came out with Dexfenfluramine, the 1st "fat drug". It turns out that they had very little of the revenue since (1) they owed licensing to the original developer (2) Am Home Products was doing the marketing. When FDA approval came, the publicity sent the shares skyrocketing. My buy at 8, peaked over 40 (took about 15 mos). I held on and finally sold at 25.

Once the earnings did not materialize, Interneuron fell much further.

I do not know if IDPH will act like Interneuron, but I feel better about them, primarily because:
1) They own C2B8
2) They are sharing production and marketing and will receive considerable revenue.

It has seemed like IDPH always runs up on anticipation and sells on news. Even so, if the publicity from FDA approval extends big time to the general media, there should be a buying frenzy that will establish a new record price. You probably will not want to miss it. In the mean time, maybe selling will push it back to 17 and you can buy back in at that level. Maybe not.

If you look at the recent trading, you can see that there is little volume on down days.
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