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Biotech / Medical : Alfacell (ACEL)

ACEL 11.09

-2.1%

Feb 11 3:59 PM EST

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To: r. parker griff who wrote (533)	6/25/1997 12:04:00 AM
From: John Jenco	of 1533

rpg -- You've been sacked one too many times. <grin> Better hit the bench 'til your head clears... -share price is flat -volume is virtually non-existent -options/warrants are expiring worthless left and right -many shareholders (not just here) expressing concern to ACEL mgmt. -cash burn rate seems to be accelerating above projection -projected NDA milestone slipping further into '98 -overhead and G&A on the rise -competitive products garnering most of the press/brokerage support -no whiff of licensing agreement(s) in the wind -last SIX (6) SEC 10Q's state "substantial talks" underway -months of due diligence by brokerages and no conclusions I don't know about you, but I find it difficult to characterize this as "good". I want to be where I can see management making the right noises to the right people. I want to be where I can see some strategic partnerships forming. I want to be where I can see steadily rising share pricing and average daily trading volume. I want to be where I can watch the press and market giving Onconase and ACEL the credit they deserve... or are they? --John

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