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Biotech / Medical : thermo cardiosystems(tca)
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To: Dan Hamilton who wrote (40)10/6/1997 10:46:00 AM
From: Mark Cahill   of 57
 
Thank you for alerting me to World Heart. I was not aware of them. I did some cursory checking on Bloomberg and read some of the past contributions to the WHRT thread. Stock price has been doing well in Canada. I am not an expert in the technology, just an investor. I, and many others, funded TCA in its early stages. You need a lot of patience with these development stage companies. They will have big swings.

First human implant expected in 1999. Figure 2000-01 because of delays of some sort...design problems, regulators, etc. Foreign regulation less strict than U.S. so that is a plus but the U.S. is the biggest market so even if the product works well, they are still a long way off before entering the U.S. market. FDA process currently is tortuous as TCA can attest.

I cannot comment on technicalities of WHRT's product. Market valuation will probably stay small until they get past some more milestones.

When I bought TCA, I put the stock in the drawer for about 5 years. If I were to invest again in a similar situation, I would trade the stock more actively to take advantage of the volatile swings. If they don't have deep pockets, expect the swings to be large because of manipulation by insiders and market makers.

Good luck!!
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