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Biotech / Medical : Texas Biotech (TXB)
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To: Bill Wexler who wrote (407)12/26/1997 3:43:00 PM
From: X. Fang  Read Replies (1) of 834
 
Dear Mr. Wexler,

I've been investing in TXb for several years. Your claim that TXB is a total scam sounds very scary to me. Before I consider to sell my holdings, I would like to ask you a few questions. (I assume that you must be a expert in Biotech-investment and have done the research on TBC throughly).

1. Why don't you think TXB is an expert in the field of "computer-aided small molecule drug design"? When you visited the company, what kind of equipment were they using? What kind of equipment do you expect an expert in their field should use? Can you give me an example of a good company in the field of "computer-aided small molecule drug design"? And pardon me if sounds stupid, what is "computer-aided small molecule drug design"?

2. Two analysts from Lehman Brother, Dr. Butler and Mr. Rouse, started to cover TXB with a "Strong Buy" rating about 8 month ago. As I understand, they are reputable analysts and have very good track records. They even played the major roles in the secondary offering of TXB. Why do you think they are willing to risk their reputation and creer in a scam company TBC, especially such a small company?

3. About the FDA review. You said 'A lot is made of the "priority review" process.' What percentage of NDA filings is granted "priority review" by FDA? A friend of mine told me is 9%, this is quite different from "a lot".

4. Why do you think "Novastan will be rejected"? The drug has been using in Japan for over 3 years without any negative report. Could you please give me some explanation on your conclusion? it's a huge thing.

Thank you very much for your time.

Sean
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