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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE
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To: Vip who wrote (227)9/25/1997 12:15:00 PM
From: F. Jay Abella, III   of 670
 
Hi Board:

I was impressed by the news yesterday. I am the bio- and medtech analyst for Westergaard Online Systems (www.westergaard.com). I wrote the following about ProCyte yesterday after a chat I had with Karen Hedine and a visit to the Company.

"We will be following Procyte Corporation more carefully than we have in the past. After visiting the company in July, and being impressed with their transition from investment banking model biotech to risk management model "device" company, we think that the company, with circa $1.55 in book value, is an intriguing stock at $1.18. While PRCY has been in this transition, they have not been vigorously telling their story to Wall Street audiences. However, we sense that they are beginning to do just that - witness Monday's Dow Jones piece. This small glimpse of PRCY's future generated 15x the average stock volume and a valuation jump of almost 30%. Coupling product sales from their newly introduced GraftCyte(TM) Post-Surgical Shampoo, its GraftCyte(TM)Moist Dressings and its GraftCyte(TM) Hydrating Mist, will help drive the company to profitability somewhere in 1999. With products to mitigate their burn rate, and $14-15mm in cash reserves, we anticipate significant increases in PRCY shares in the year ahead."

I am looking forward to hearing that your informed thoughts will complement my above speculation.

FJA
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