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Biotech / Medical : Biomatrix (BXM) Looking Great
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To: Eduardo Canto who wrote (106)10/4/1997 10:47:00 PM
From: John McCarthy   of 569
 
Eduardo

Hi!

Good to hear from you.

(WAY OFF TOPIC)

There are two stocks that I do not want to get away
from me in 1997. They are:CBMI and ANIK.

I won't bore you with the reasons.

But I have a slight problem. And I would appreciate your
thoughts on.

I am long 2,500 shares of NPRO. And to be blunt if it
goes to -0- so be it. If not, I will jump on the stocks
I just cited.

A weird story
--------------
NPRO successfully passed an FDA Advis. meeting for their Taxol equivalent drug called Paxene this past Sept.

But, and here is my question, have you EVER heard of a
situation in which the IR department (NPRO) is telling
individual investors who call them that the company is meeting with
the FDA (in this case this past week) YET there is no public
utterence either from NPRO or its co-partner IVAX about
such a meeting.

The revenue stream on Taxol is about a billion (I'm rounding
up) and it is a incredulous situation to me that a company's
IR department would be talking about such a thing - even if
it were true - privately to investors without disclosing such
information to the public domain.

In other words, they are begging for an investor lawsuit.
Not just from people who own the shares, but possibly from
people who *don't* own the shares.

To this end, I have drafted a carefully worded letter advising
them that, if true, this is a no-no, and that I am forwarding
the information to the SEC and FDA via e-mail.

Note:Before sending any letters I give myself a 24 hr. cool
off period.

Can a company legally tell private investors something of
relatively great monetary importance without first making a
public announcement?

Any thoughts you have on this I would appreciate.

If I sound a little 'bent' about this - well, I am.

Regards,

John McCarthy
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