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Biotech / Medical : Zonagen (zona) - good buy?
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To: Jonathan Rothschild who wrote (337)5/29/1997 12:29:00 AM
From: ItsAllCyclical   of 7041
 
I was long on this stock at one point but got out before the recent rise, but here's my two cents. I see the drop today as a big short-term negative. It should have been able to keep it's rise for more than one day. All this can change based on whether or not they line up a good agreement, but don't assume just because there is huge short interest that the shorts will have to cover. Look at Zitel and Vivus both had HUGE short interest positions and still do.

I know Pixar had a huge short interest and then it remade it's deal with disney to get 50% of future profits. Pixar and Zona are somewhat similar in that they'll receive very little money during the next 2 yrs. Pixar was 15 pre-announcement, shot up to 24, now it's around 15 again. My point is it's hard to value a company that won't earn any substantial profits for 2 yrs.

I'm nuetral on this stock currently based on the action today. I might buy if it dips back around 14-15 and go short if it gets above 30-35. At these levels who knows?

Jim
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