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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Rocketman who wrote (5212)6/26/1998 10:34:00 AM
From: Andreas Helke  Read Replies (3) of 9719
 
Rocketman, I think shorting EntreMed was a reasonable if somewhat risky short term bet when the model did it. But now I wonder why you want to keep the position open.

I'm getting awfully tempted to buy more EntreMed at current levels to avoid the risk that it doubles again before I get to buy my desired full position.

As far as I can determine EntreMed is further along in endostatin development than I thought. This is leaving just a few months before preliminary trials in human cancer patients can begin.

EntreMed has a higher market cap than a biotech company in its stage of development normally has. But with a revolutionary preclinical cancer drug and a totally unrelated but still promising second technology in the cardiology field (cell permeation) I don't think that EntreMed is seriously overvalued.

I fear that a successful EntreMed will be bad for the business and particularly for the stock prices of the other cancer biotechs in my portfolio and want to be prepared for this possibility with a big enough EntreMed position to offset the potential losses.

I checked EntreMeds short position and found that it was about 1/4 of the float. Does anybody know if this is enough for a decent short squeeze?

Andreas
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