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Biotech / Medical : NexStar Pharm(NXTR)

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To: Miljenko Zuanic who wrote (292)	6/11/1998 9:19:00 PM
From: Steven Yang	Read Replies (1) of 328

MZ, Glad to see that you are still holding your NXTR shares. [Holding NXTR has not been easy for investors] Currently, NXTR's market cap. is less than 3 times its product sale. Thus, the street must have been assuming a) there will be a reduction in sale in 98 vs 97; and b) NXTR's pipeline (MK, NX1831 and the upcoming NX211) and its technology (SELEX and PASS) are worth ZERO. With the events in the past two weeks, I feel that we are at the turning point: 1) We will see a sale growth in 1998 due the approval in France, label expansion in Europe, and the improved sale in US (from your earlier post). 2) With the Glaxo deal (I know that the deal is not as good as we would like it to be) and the filing of IND for NX1831, I believe that the value of SELEX will start to be recognized. 3) I think that we will see in the next few months i) positive results for MK Phase II results; ii) more partners on either SELEX or PASS or both. With all these positive development, short sellers will have to cover at the current price (at least for those shorts who are not hedging the convertables.) Steven ps: do you know AB's market potential for France?

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