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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer
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To: David Cathcart who wrote (684)2/18/1998 1:33:00 AM
From: Vector1  Read Replies (2) of 1826
 
David,
Yes a European deal would be great but the real driver of the stock will be Salagen sales. Interestingly the Company's sound financial footing makes it more difficult for them to get coverage. With almost 15m in cash and negligible burn they have no need to do a secondary offering. Analysts at major IBanks rarely pick up coverage of small cap stocks if there is not a strong likelihood of a significant fee generating event. MOGN's volume is not sufficient to peak interest. However if we start seeing sequential quarterly 30% sales increase then the company will become very difficult to ignore. Currently the company is significanly undervalued.
With FDA approval in the bag and an average cost just under $5 a share I will sleep very well.
V1
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