Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Steve Harmon who wrote (898)	11/4/1997 1:26:00 PM
From: Vadim D. Marchenko	Read Replies (1) of 2742

Steve, if CIST elects to proceed with the stock repurchase, how much cash you think they should spend on the repurchase ? CIST is obviously considering spending some cash on M&A ( hired Bluestone Financial). In your opinion are there any good fits out there ? Do you think they are better off in the long term spending money on growth and expansion through acquisitions rather than buying back their own stock ? IMHO buying back their own stock does not make a whole lot of sense. Management has a huge position in CIST already - if they wanted out they would concentrate on ways to unload their stock not buy it back.Unusully strong ( for a biotech co.) cash position makes them only more attractive as a target. On the other hand, if they want to stay and grow business and revenues, they probably would need all the cash to finance the growth ( M&A, outsourcing R&D or marketing and ditribution, depending on the path they choose ). I just do not see how would the stock repurhase benefit them in either case. What are your thoughts ? Vadim.

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