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Biotech / Medical : CEPH
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To: tony di fatta who wrote (548)1/2/1998 8:38:00 PM
From: arnie h  Read Replies (1) of 998
 
Street probably had factored in a reasonable chance of approval for Myotrophin when it climbed to 20. Then the Advisory Board pulled the rug out. The last month has probably seen lots of tax selling which aggravated the drop. Now with approvability of the narcolepsy drug,
the price seems quite low as the risk/reward ratio is obviously favorable. It should begin to climb next week as traders return to action. It's not unusual for stocks pounded by tax loss selling to delay climbing for a few days.

Good luck. Sounds like you're long.
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