ArQule Message Board - Msg: 4829542

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Biotech / Medical : ArQule

ARQL 20.00

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Jan 16 4:00 PM EST

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To: Czechsinthemail who wrote (221)	6/11/1998 10:49:00 PM
From: Dr. John M. de Castro	Read Replies (2) of 399

It all depends on the spin that you put on the $2MM equity investment. It is indeed an old collaboration. If you see that as a disappointment, then, I guess the stock will decline further. However, management has indicated that that the Wyeth-Ayerst collaboration is going very well. This equity investment simply confirms this. This is an important collaborations for ARQL and this step in the progression of the program is an omen of good things to come. It is nice and flashy to announce new business. But, performing well with the ongoing business is IMO more important for the long haul. ARQL's profitability will occur when its molecules become drugs and are marketed. This is a clear indication that the development in this direction is going very well. In the long run, that is what will drive the stock value up. As I've said before, ARQL is boring. But, then again, all the really good companies are. They attend to their core business, and generate few surprises. Companies like Coke or Home Depot come to mind. ARQL is not flashy. It's just very very good at what they do and what they do is a cornerstone in pharmaceutical development. John de C

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