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Biotech / Medical : Vivus, Why the Slide?
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To: Tunica Albuginea who wrote (2337)7/1/1997 9:46:00 AM
From: Tokyo VD   of 3991
 
TA, I don't understand your mention of Liposome.

Although you said Macrochem's product is "It is even a greater pity that when the FDA nixed Cerestat, and Liposome shareholders
lost $560,000,000 in the market last wed, Marc Ostro left his post at UBS and went to work for styrofoam-magnate Kenneth Dart
who had bought 20% of Liposome stock and helped push it to $20/ share but bailed out of Liposome 1 week earlier by buying puts.
(there was frantic buying of Liposome puts I week before Liposome crash.
9Mbarron's p24,June 30, 1997 ).

I believe the product was C-53, or Ventus. I've not heard it called Cerestat.

Ostro did leave UBS, but it hasn't been confirmed that he went to work for Dart (although the Dow Jones and Bloomberg reported this
to be true).

According to well placed sources, Dart didn't buy puts in some elaborate hedge strategy (if there was any big put buying it must have
been all of those "smart" longs who knew the company was going to announce bad results...)

Respectfully,

Stockmover
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