Procept (PRCT): 50% rise on high volume. Why? Message Board

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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why?

PRCT 31.91

+1.9%

Nov 7 9:30 AM EST

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To: James Silverman who wrote (203)	7/22/1997 12:28:00 AM
From: Bob Sokol	of 455

Gents, I am a long time holder of GENTA stock. As I recall the sequence: I watched it for months bouncing from 75› to a dollar /share. I bought in at 78› on a dip. The company has solid biotech products and some cash flow, but needs CASH to keep up their level of R&D. The stock dribbled down to 40›. The story got out about their 'bail-out' by Aries. Didn't help any. The stock reverse split 10:1. My break even became $7.80. The stock is currently trading at $2. We haven't heard anything from Aries since the initial announcement and subsequent explanation of how they now basically own the company (by way of preferred stock). There are rumours (on the GNTAC thread) that Aries is hiring away engineers to work at other companies they control... Suffice it to say, they didn't do GENTA any good...

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