Zonagen (zona) - good buy? Message Board

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Biotech / Medical : Zonagen (zona) - good buy?

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To: Secret_Agent_Man who wrote (336)	5/28/1997 11:21:00 PM
From: Jonathan Rothschild	of 7041

Zona's press release after 5 p.m. was the last word. I loved the way the first sentence read about Genesis Merchant Group and Paine Webber were lead underwriters for Vivus offering. This is a p.r. war and fun to watch. Notice how the negative press release came out at about 3:30 p.m., the same time as Zona released their results a day earlier. However, I assume they circulated their negative report earlier in the day, which would have accounted, in part, for the weakness all day. The only way the shorts could protect their position was to set a negative tone for the stock from the first tick on and they shorted it again all day. I assume that with the new short interest today, s.i. is currently over 1 million. This may give some of them a more graceful exit, but eventually the stock will soar. They also had a weak biotech sector in their favor.

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