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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: Gerald Thomas who wrote (226)8/6/1997 3:01:00 PM
From: Douglas   of 455
 
Gerald:

Take a look at biotechnology company called RepliGen (RGEN). They are located in Massachusetts. Their web site is:

repligen.com.

RGEN is almost an exact duplicate of Procept (PRCT), except one year ahead. This company was trading at less than 50 cents in mid-1996 (look at a two year stock price history). They halted a HIV vaccine and drug development last year. The number of shares outstanding is equivalent to what PRCT has outstanding, but RGEN is currently trading around $1.25. Paramount Capital owns about 13% of RGEN. This substantiates your long-term commitment theory. By next year, PRCT should be above $1.00. Assuming, some good news. This is probably an example of why PRCT thinks their stock is undervalued.

Another Question: With Paramount owning 51% (if they exercise their warrants) of PRCT's stock , do you think that Paramount might try to sell PRCT to another company? RepliGen is a good match, both are located in proximity to Boston. Paramount has been recently adding to their position of RGEN stock. This is pure speculation, nothing to substantiate this theory. When I did my research into Paramount Capital and their purchasing of stock in other companies, I couldn't find any reference to where they bought such a large percentage (controlling interest). Paramount Capital usually buys enough shares to gain them a seat on the Board of Directors. I also noticed that RGEN is hiring a Manager/Director of Product Acquisition. Any thoughts?
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