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Biotech / Medical : Texas Biotech (TXB)

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To: Steve Valliere who wrote (719)	7/19/1998 10:11:00 PM
From: Bill Wexler	Read Replies (2) of 834

The Woodlands, Texas biotech frauds (TXB and ZONA) rely on an information vacuum to artificially inflate the price of the stock. I am not surprised that the stock has burped back up on "news" of a potential "resubmission". This does not change the facts that TXB has fraudulently promoted its stock or that Novastan has no chance of ever being approved. When these scam companies can keep out of the FDA's sights, then the stock can be manipulated anywhere. Note that Zonagen fell as soon as its NDA was filed. I expect the stock to collapse completely upon rejection and then Zonagene's management will make similar overtures of "resubmission" - probably causing a similar spike in the stock price. This process can continue for years as new victims come in to replace the old ones.

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