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Biotech / Medical : Biotech Valuation

CRSP 54.74

-2.1%

Dec 17 3:59 PM EST

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To: Biomaven who wrote (8524)	5/29/2003 4:33:51 PM
From: JFitnich	Read Replies (1) of 52153

FWIW. After seeing the ALTH news around 10AM, I sold my entire position. I had resigned myself to an upcoming tax loss, so today's action was a bonus (still a loss though). Feuerstein commented that this was a risky strategy, and ALTH was "insinuating" through the PR that the FDA was encouraging this idea. I have to agree w/him. I didn't like the tone of the press release. It seems highly unlikely to me that the FDA would allow a subset analysis to factor into their decision w/out new trials. Taking into account the froth in the market, I sold. I bought this company as a longshot. I made money with Somatogen (blast from the past) when they got bought out by Baxter and a couple of ALTH execs came from there. I liked the concept of RSR13, but like most biotechs the trials didn't pan out (or so I thought). JF

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