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Biotech / Medical : CNSI Cambridge Neuroscience
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To: Peter R Smith who wrote (8)7/24/1996 8:20:00 PM
From: John B. Anderson   of 675
 
Peter: I talked to analyst Ed Hurwitz yesterday and he remains extremely confident about CNSI, although hedging with the suggestion that one double up on shares here with the strategy that the stock will perform like other biotechs in the past by rising before the critical announcement of the results of the Phase III trials. He thinks one can then sell on the appreciation caused by the anticipation, take that money and run, leaving oneself playing "with the house's money" for the bang or bust to come.

He reiterated a claim I've heard elsewhere that the Docs all figured out which was placebo and which was Cerestat long before the trial was over because of the obvious improvement in those patients. He also told me the history of Cambridge's CEO in getting a very tough drug for Alzheimers through the FDA, and the respect FDA personnel have for this guy. He also waxed rhapsodic about the comprehensive neuroscience database and experience of Boehringer Ingleheim and the value of their guidance in these trials and FDA approval struggles.

I'm going to hang with it for the full ride, and may buy more to sell with the strategy Ed suggests....

Make no mistake, this is a HIGH risk/ENORMOUS reward opportunity. If Cerestat flies, look for a $50 - $80 stock over the next two years (those prices according to the analyst, not me).

John_B_Anderson@prodigy.com
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