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Biotech / Medical : Biomatrix (BXM) Looking Great
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To: James B. Barnes who wrote (302)12/31/1997 10:55:00 AM
From: John McCarthy  Read Replies (1) of 569
 
James -

You know more than I do.

Sounds like the FDA gave them a HEADS-UP so they
bailed out. All things being equal, if they were
going down anyway, better to jump than be thrown out.

With respect to 1998, I was counting on a (1) $5.0 mil.
license fee from Collagen (CGEN) and (2) $2.1 mil. in product
sales at the rate of $700,000 beginning in the 2nd Qtr
of 1998.

The $5.0 mil. license fee miss is big because it all fell
to the bottom line. In addition, it also hurts cash flow
which was looking terrific for 1998.

Maybe someone could EMail them and state that there is some
Nut Job on SI claiming they just lost over $7.0 million
in 1998 sales because of this. They might just give
additional details as to when they plan to refile, etc.

Regards,

John
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