GMED Message Board - Msg: 1749122

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Biotech / Medical : GMED

GMED 60.39

-0.5%

Oct 31 9:30 AM EST

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To: celeryroot.com who wrote (34)	7/12/1997 10:16:00 AM
From: Cong Cao	of 63

GeneMedicine Falls; CFO Says Everything OK At Co. >GMED Dow Jones News Service ~ July 11, 1997 ~ 3:46 pm EST By Connie J. Lee NEW YORK (Dow Jones)--GeneMedicine Inc.'s (GMED) chief financial officer said he doesn't know what sparked the company's stock to plunge 24% when the company is in good condition. One market watcher said much of the big block trading, which pushed the stock more than 30% earlier, is coming from Alex Brown & Sons Inc. A trader at Alex Brown & Sons declined to comment on the stock's movement. Rick Waldron, the company's chief financial officer, said the company is in good condition and has in excess of $30 million in cash, enough to carry it through 1999. Shares of GeneMedicine recently were trading at 5, down 1 17/32 or 23.4% on Nasdaq volume of 2 million compared with a daily average volume of 95,460. (MORE) DOW JONES NEWS 07-11-97 3:46 PM

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