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Biotech / Medical : Pharmacopeia, Inc. (ACCL) (Prev: PCOP)
ACCL 4.028+0.7%3:59 PM EST

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To: John Dwyer who wrote (14)7/24/1997 1:35:00 PM
From: kinkblot   of 179
 
John,

I checked out the Pharmacopeia website last night. In their description of the technology, they note that drug candidates synthesized by ECLiPS are typically 10 to 1000 times more potent than those developed by standard techniques, due to the smaller molecular size. They also generate more candidates by orders of magnitude, and can rapidly identify the structures of the active ones. What they've got is like a "sausage machine" for cranking out bioactive compounds.

The non-cash market value of the company is only around 100M. For that amount spent internally, a pharmaceutical company gets only a fraction of the capability they get by working with PCOP. So once the technique is validated by one of their partners with some clinical success, the value of the technology will be marked up quickly.

I've been following this stock casually since the IPO, although I've never owned it. The stock has followed a pattern typical for many IPOs, e.g. HGSI. Now it looks to me like the basing out period is completed. I made an initial purchase this morning at price 14 3/4, and will buy more if it moves up. My technical indicators tell me that the stock is under accumulation and should begin to move up soon.

Will
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