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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ)

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To: mc who wrote (2752)	11/21/1997 5:08:00 PM
From: jack velte	Read Replies (1) of 23519

I also listened to the ZONA conference call. My impression was that the CEO was forthright. However if their product doesn't ever work, he'll still have been a CEO of a nice company for a long time. He mentioned that at their burn rate of $4M/year they could be in business without a product 'forever'. [Checking the 10Q, it seemed to me that their burn rate is twice that -- maybe he's already factoring in the S&P royalties.] While I didn't think the CEO was a big lier, I didn't come away, either, with the impression that their product was a slam dunk. Also, there was a big of the "we all love you" grope-fest that is so common on these threads with callers cheerleading the CEO to the point of completing misinterpreting facts about the Asensio report (http://www.asensio.com). [Example, the caller that said Asensio was very stupid because Asensio mistakenly said to sell Coke three years ago. Asensio said Coke was a strong buy, not a strong sell.] I plan to buy 3-6 month ZONA put options. I own PFE stock for long term (and am thinking of moving more of my portfolio into it). I own 3-6 month VVUS call options, bought one week ago at around 22.

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