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Biotech / Medical : ArQule
ARQL 20.000.0%Jan 16 4:00 PM EST
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To: Wally Mastroly who wrote (80)7/17/1997 10:37:00 PM
From: scaram(o)uche   of 399
 
Wally...... this is biotech. Nobody gives a damn about quarterly estimates for developmental stage companies.

However, as Dr. John De Castro has been reporting, this quarterly report marks a point where insider lock-ups expire. There may well be some price pressure coming near-term. On the other hand, most knowledgeable investors knew of this at the time of the Wyeth announcement, and I suspect that it tempered upward movement. Given this scenario, I feel that buyers will be there for any shares that insiders unload.

But, if we seen some pressure, I wouldn't assign it to the quarterly.

Rick
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