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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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To: scaram(o)uche who wrote (629)	3/17/2005 7:40:38 PM
From: former_pgs	Read Replies (1) of 946

I don't mean to imply that there is an attempt by CTIC to defraud investors by lining up "faux" insider purchases. However, I think that for unprofitable biotechs, insider purchases by management really have not played out to be the useful signals that they may serve to be in other sectors. That is why I don't view the recent insider purchases in CTIC as a "wink" to faithful investors. These purchases could reflect genuine belief in the utility of the released ST3 data and/or confidence in the upcoming ST2/4 data. Alternately, it could be reasonably interpreted as a signal that the insiders believe that despite the impending flame-out of Xyotax, there will still be value in the company (trisenox + pix + others). Although both are reasonable "vote of confidence" scenarios, one implies optimism in Xyotax, the other implies its demise. Let us not forget that management wrote themselves some rather large and free lottery tickets after they combed through the blinded data. They're no angels, and it might be worth keeping that in mind while interpreting these insider transactions... especially when we have very little idea about the real data behind ST3.

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