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Biotech / Medical : Biotech & Pharma.T.A,

BIB 79.96

+3.0%

Nov 24 4:00 PM EST

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To: John Metcalf who wrote (927)	5/23/2005 8:19:07 PM
From: Jibacoa	Read Replies (2) of 3722

John: Re: NRGN After it found support at the 6.50 level last week, it moved as high as 7.85 on Friday, for a 20.76% gain in 3 days, which is not bad these days.<g> Today it tested support again when it traded as low as 6.48 at the start of trading. Will see if it can stay above that "support level" with their scheduled presentation on Wednesday.<g> The loss for the Yr. ended in December was less than half of the loss in 2003 ($0.63/share vs. $1.78/share) but the EL for 2005 is $1.25/share (in spite of a smaller loss in the 1st Q of $0.24/share vs. $0.38/share)and the EL for 2006 is $1.66/share. NRGN reportedly has around $4 in cash/share and its Debt/Eq ratio is around 0.09 Insiders hold more than 20% and although the short position is only about 2% of the float, since the trading volume has remained modest, the short ratio is around 16.<g> It has has drug development programs for insomnia, pain management, depression/anxiety and obesity/diabetes, which are in various stages of research and preclinical and clinical testing. As you mentioned, it has some research collaboration with Merck Sharp & Dohme,(a subsidiary of MRK) and also with PFE. bigcharts.marketwatch.com RAGL Bernard

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