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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE
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To: Coha who wrote (239)11/5/1997 7:37:00 PM
From: Chris Nevil  Read Replies (2) of 670
 
Coha, thank you for the rundown.

I guess I'm just getting jaundiced but the hallowed cliche "show me the money" really applies here. I, too have had numerous "encouraging" conversations with I.R. over the last year or more but when I look at a snapshot of where we are today versus when I got on board with the stock perhaps two years ago, I get frustrated. I see a company that has not really achieved any consistent or meaningful revenue stream, has converted from a development-stage biotech company to a medical device/cosmetics marketer, has drastically shifted sales tactics from a direct force to outside reps, has been unable to really put together the strategic partnerships necessary to amplify their message to the medical institutions, and while "downsizing" to curtail the outflow of cash has still eaten through enough of its capital to begin to make me nervous about the intermediate-term future.

I would love to hear someone's sincere thesis for holding the stock going forward. It's the biggest loss in my portfolio (that's saying something!) and a tempting "tax absorber". And hey, the Chairman sure doesn't seem to see much point in hanging on to his considerable PRCY nest-egg...

Chris
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