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Biotech / Medical : Guilford (GLFD) - Steadily Rising
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To: Dr. Bob who wrote (222)5/17/1998 10:51:00 AM
From: Steve  Read Replies (1) of 496
 
I just read the latest Alex Brown research report on GLFD. Basically, they downgraded the stock without changing their investment rating. They lowered their target price to $33. The report goes on about the many disappointments, from Gliadel sales below expectation to the delays in clinical trials of the various programs. They also point-out that cash balances will be lower than expected. I read in the 10-Q that management feels their cash will be adequate for 24 months.

The report points-out enough uncertainties to make me almost want to dump my stock and go with the KO's of the world. I will not dump all of the stock but I am considering lighting-up and revisiting GLFD in 1999. That is when it appears that there may be some goods things that will come out of the company. Then again they may disappoint with further delays in clinical testing.

Now I have a better feel as to why the stock is where it is and may not be going anywhere for a while.
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