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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE
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To: Coha who wrote (238)11/5/1997 12:10:00 PM
From: Coha  Read Replies (1) of 670
 
Ok, talked to IR this morning and here is some information to share. None of this is too much of a surprise as we expected but some is worth noting:

1) There is not yet any pattern to sales so there is no explanation for the inconsistent sequential product sales. The products seem to be well received but of course the issue will be getting the word out. The 3rd and 4th cy qtrs are heavy with plastic surgery/hair restoration symposiums so the focus on the part of Clifford and the company will be a strong presence at as many as possible.

2) They are, as noted, looking to partner out a number of their other products, specifically Iamin. It sounds like the IB product, as a phase II only, will not be picked up. On the other hand, it does sound like Iamin itself will be and the challenge will be to negotiate terms that do not give the product away.

3) They will continue to ramp down R&D, however I expect it to plateau out as they continue to add cosmetic and beauty products to their line.

4) I know I beat this like a dead horse but Clifford has breathed new life into that company - his mktng background will be the key to a turnaround.

5) OK - last subject: I assume some of you noted that the COB is once agiain selling shares. Not a lot this time (12k, registered last wk of Oct.), but enough to start the slide again. It will not surprise me to see this accelerate into next week. Then again, who knows. The randomness of it is excrutiating. If I told you what I thought of this in actual terms I am using right now I would be permanently banished from SI. So I won't. Suffice it to say that I find it disturbing not from a stock price (how much lower does he think he can make it go) but from his motivations. He is supposed to represent the shareholders. Of course IR is uncomfortable with any questions about it but I am sure they fully understand the displeasure of shareholders over this. Enough said.

Despite everything the COB is doing from a stock price perspective, it looks to me like the company is on track and focused. All the best to fellow PRCY shareholders. I'll have more comments later.

Coha
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