Zonagen (zona) - good buy? Message Board

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Biotech / Medical : Zonagen (zona) - good buy?

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To: Samuel Seward who wrote (2235)	2/6/1998 4:41:00 AM
From: Bill Wexler	Read Replies (1) of 7041

Zonagen's accounting didn't really alarm me (however - check out TXB - a company with links to Zonagen investors/insiders, and very dubious royalty arrangements with their stock promoters). Most development stage companies are speculative - and money losers. Investors bet on future revenue streams - I would say that they are disappointed 95% of the time; however, being on the ground floor of an Amgen can make up for a lot of losers Obviously, this creates a fertile ground for massive hype and outright fraud. Zonagen falls into this category. Zonagen is hideously overpriced because its drug simply does not work....therefore there will be 0 market for it....therefore 0 revenues and 0 earnings. Right now, investors are paying $225,000,000 for a worthless shell.

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