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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI
CCSI 25.01-16.0%Nov 6 3:59 PM EST
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To: Ron Harvey who wrote (3092)6/13/1998 6:42:00 PM
From: Rajiv  Read Replies (1) of 5736
 
Ron,

One of the major reasons that the shorts have piled on CCSI is that they think something is very wrong. The company received the FDA approval several months back. We are yet to see a marketing deal signed.

My guess is that they sincerely expected to have a partner much earlier and underestimated the time-consuming complexities of the negotiations

Complex deal? Do you know how long it takes to put together an average multi-billion dollar merger deal?

So what's possibly going on are offers and counteroffers with the potential partners feeling no rush to conclude a deal, maybe figuring that the passage of time places pressure on CCSI to make concessions while they simply proceed comfortably with their ongoing business.

Or maybe the potential partners are not very impressed by the product?

Till the deal with a distribution partner is signed, the shorts will not go away. At the moment, most shorts are comfortable with their positions.

Also after the marketing deal is signed, the company will be forced to justify its market-cap with revenues & earnings. Most shorts think that they will never be meaningful and if their line of thought is correct, you can expect to see lots of short-to-zero shorts.

Regards.
Rajiv
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