Biotime-Nasdaq's best kept secret? Message Board

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Biotech / Medical : Biotime-Nasdaq's best kept secret?

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Nov 5 1:26 PM EST

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To: Jim Roof who wrote (999)	6/9/1998 10:30:00 AM
From: mesaone	of 1432

this is pennsylvania merchant groups buy recommendation dated june 3rd. analayst is michael martorelli. we continue to recommend btim as an attractive speculation, but only for investors with a strong tolerance for mischief and uncertainity. at the end of the day, it will be the FDA (not individual physicians or investors writing threads on intenet chat roms) that will decide 1. whether to accept btim's new drug application for its lead product hextend, and 2. whether the product is safe and effective enough to be approved. further, itw ill be the hospital and anesthesoiologist customer base of abbott las (not individual physicians contacted by reporters or analysts) that will decide how successful the product will be on the marketplace. in the absence of any hard data on any of those three important issues, we believe the stock will continue to a volatile playtoy of both the longs andthe shorts. Indeed facts will determine the outcome of the BTIM investment story. we remain confident in the company's management, its business plan, and in the relative attractiveness of it's stock. BTIM's management and its regulatory consultant communicated with fda personnel and recieved their permission to forgo phase 1 and II trials of hextend. permission to proceed with the 117 patient phase III trials was based on the per-existing knowledge of Hexten's components and widespread clinical use of the drug substance hetrastarch. It would be naive to assume that any particular company could never misinterpret the fds's comments regarding a clinical trial program, or that every company that completed a phase III trial completed it correctly. On its face, however, the phase III trial that is the basis of the hextend NDA does seem to have been completed satisfactorily, i.e. no inordinate number of patient dropouts and no large gaps in the data collected.

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