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Biotech / Medical : MAXIM PHARMACEUTICALS (MMP)
MMP 69.000.0%Sep 25 5:00 PM EST
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To: Christopher Ting who wrote (1)9/28/1997 6:51:00 PM
From: Bashby   of 10
 
Christopher:

I listened to a tape of the Informed Investors Forum held in
San Diego during August. The Maxim presentation was
beguiling, but I could find no MMP thread in SI.

Since your reply the company has announced a "world wide"
underwriting of 2,500,000 common shares. They must surely
have told their story in San Diego with full knowledge that
their stock deal was ripening.

The abrupt rise of the stock probably has more to do with
the underwriting than it does with their presentation at
the Forum. Underwriters, especially those of OTC deals,
frequently seem to have worked with market makers to
inflate the market price of a stock prior to an under-
writing.

I started the MMP thread hoping to find folks out there who
would know enough of the technology to give us a fix on the
reality and the promise of the MMP research.

The U.S. underwriter is new to me: Rodman & Renshaw. The
other lead underwriter is an Oslo firm. R&R seems to have
done 4 deals this year, of which I have examined only one.
That security seems now to be selling at about 1/3 of its
issue price earlier this year. I hope, for Maxim's sake,
that the other R&R deals worked out better, otherwise we
might be better advised to short MMP now and cover after
the underwriting.

WRE
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