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Biotech / Medical : Texas Biotech (TXB)

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To: sam who wrote (324)9/21/1997 9:51:00 AM
From: Bill Tomko   of 834
 
My understanding is the deal will go off the second week of Oct. I would expect the deal to be priced at or an 1/8 to a 1/4 below market on the day prior to the offering date. Accordinly I'm expecting something in the 5 to 5.50 range based upon recent trading. Lastly there is a quite period imposed by the SEC during the offering period and for I believe 30 days following when the only comments to be made are to refer investors to the offering Doc. Accordingly, other then the strenght of demand created by the road show, positive results from the French legs of the Nov. MI study, Positive phase II reuslts from some of the current studies or a partner announcement are going to be th eonly near term drivers of the stock.
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