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Biotech / Medical : Texas Biotech (TXB)

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To: David D. who wrote (312)	9/5/1997 2:10:00 AM
From: Dauntless	of 834

No, it is not "likely" that the drug will be rejected for use in humans. Pardon me, but this seems like a very negative statement, FDA drug trials are not games of chance. Drug comapanies are in constant contact with the agency throughout (and during the planning of) the studies. In addition, the people running this and other drug firms are VERY experienced and have a very good feel for what will be approved. Probably over 60% of all drug submissions get approval. Many get rejected or delayed because they are the 10th drug for the same application - who needs them? For those granted "fast track review" the percentage is even higher (maybe 80-90%). This is a drug for a life threatening conditions with no alternative therapy. IMHO this stock is only lagging because of the perception that there are too many shares outstanding. That may have some validity, but TXB is undervalued at the current price & is doing all the right things. Wait a few months - they have cash, a first class partner in Smith Kline, a full pipeline of other drugs - and expedited review of NOVASTAN. GOooooooo TXB

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