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Biotech / Medical : Lidak Pharm. [LDAKA]
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To: Linda Kaplan who wrote (511)8/25/1997 8:53:00 AM
From: Henry Volquardsen   of 1115
 
Linda, right after BI Research first rcommended Lidak inthe summer of 93 the stock was moving up to new highs and set a high of 9 7/8 on 8/31/93. The next day (Sep 1) Dorfman mentions Lidak several times on his tip segment. In his usual style of the time he mentions no specifics but says "several" biotech analysts he speaks to told him the stock was overhyped, have no product and that the stock was then worth no more than a dollar. In retrospect he was right about the stock being overhyped as even then it was a few years from having a product. But it had always been my feeling that some of his contacts were short the stock and trying to knock it back down. The stock hit a low of 4 that day, eventually climbed back to 9 in Oct and languished since. But it left a lot of people with the feeling that this was a hype stock with no product and I believe this is one reason the street is slow to believe Lidak.
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