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Biotech / Medical : ChemTrak

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To: William Presti who wrote (7)	9/25/1996 2:08:00 PM
From: Musti	of 48

I agree completely with your assessment -- with only 10 million shares outstanding (a market cap of slightly over $20 million), CMTR appears to be a very undervalued (and underfollowed) stock. I think this long ignored company might soon be running on 3 major burners: 1) The home cholesterol test appears to be poised for upwards sales via both direct sales and partnerships, 2) The Merck ulcer deal -- I agree with you, I think this will indeed bode very well for CMTR sales and 3) if/when they get the HIV approval, one would expect partnerships equal to the Merck deal. If all 3 of these trends go positive, one can easily justify a quick $50 - $100m valuation on ChemTrak, and thus, a $5 to $10 stock -- and perhaps this would even be conservative. Other opinions would be most welcome.

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