Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Rudy Saucillo who wrote (1252)	7/8/1998 9:13:00 AM
From: Dr. John M. de Castro	Read Replies (1) of 2742

The selloff should not have been such a surprise given: 1) The former chairmans shares needing to be sold 2) The deal is only a letter of intent and not a done deal. These things can and do fall apart. 3) The deal is surprisingly weak. CIST and Bluestone did not appear to get very favorable terms. CIST is getting next to nothing up front and if the option isn't exercised could end up with nothing from the whole deal. In the meantime, their hands are tied from pursuing other deals in this area. 4) The .75 price paid for the equity investment, indicates a perceived market value around .6 and this is where the selloff began. 5) There a lot of pent up profit taking potential. All in all this is nice to see meaningful progress from management. However, this looks like a deal cut from a position of weakness and not from a company with lock solid patents and a strong cash position. John de C

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