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Biotech / Medical : Techniclone (TCLN)
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To: john dixon who wrote (1091)1/18/1998 11:29:00 AM
From: shero  Read Replies (1) of 3702
 
I'm sorry you've lost your sense of humor. However with the stock having lost almost 83% of its value in the last year its easy to understand. Exactly where between $7.25 and $1.25 did you forget how to laugh.

While my answer was sarcastic I think it was pretty clear that I think the stock is a buy--and I've bought more at these levels. There is not one biotech company I can find with a product in phase 3 clinicals that doesn't have a market cap 5-10x higher than TCLN. Its unfortunate that mgmt can't execute the simplest of plans. One of the goals stated in the annual report was to make wall street aware of the real value of the companys' technology. The results need no explaination.

Its also unfortunate that as the stock trades at the lowest level in 2 years that mgmt needs to raise money. The dilution is going to be unbelievable. It used to be $5,000,000 went along way. With 50+ employees its only going to last them 3-4 months. Then they'll need more.

BTW I only used the $5MM because that's what was mentioned in the press release. Instead of talking about all the wonderful things the company is doing they choose to talk about a deal that hasn't been, and may not be completed. Did you notice that the resumption of the trial dates has been pushed back again? The company will be starting the full phase 3 part of the LYM-1 trial 3 1/2 years after they got the go ahead. Idec went from phase 1 to approval in less than 5 years. Please spare us the excuse that it was all their partners fault. That's a sign of the real problem. Mgmt can't learn from its mistakes because they don't think they made any.
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