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Biotech / Medical : Paracelsian Inc (PRLN)
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To: richard davis who wrote (1109)12/16/1996 8:39:00 PM
From: John H. Farro   of 4342
 
I called Paracelsian today and the receptionist told me that Babish, Rhodes and Koch were out of the office. She refered me to Andy Keller, the person I spoke to last time at their public relations firm. He couldn't give me more information about Rhode's resignation except to say that the Board of Directors and Rhodes agreed it was time for a change in leadership (my translation: this was not a voluntary resignation.) I asked him if the delay in the Bastyr study and the change in leadership had postponed the March target date for AndroVir's launch. He said that the launch date was still officially March, but that it was only a target date and it was always possible that unexpected surprises could arise in the future that could delay it. But right now they still envision getting it to market in March.

I was also able to confirm that at least part of what Paul is telling us is true. They do not plan on marketing AndroVir by going through health food stores. Instead, they plan on doing it through buyers that market directly to AIDS patients, just as Paul said. Paracelsian has indeed been in touch with those buyers. But I'm under the impression that there are no signed deals yet. I don't know if the buyers will think it's worth selling AndroVir, which demonstrated only a 38% decrease in viral load. Still, at only $1,000/year I think there will be a market for it. But I think Paul is is probably mistaken when he says that deals have been signed and everything is ready to go.

I find the idea that Paul is being paid by Paracelsian to boost their share price to be absolutely preposterous. I am convinced that the people at Paracelsian have more integrity than that. I am also convinced that they wouldn't pick Paul if they decided to hire someone for the job of increasing share price. If they were hiring someone to promote the stock, then at least they would hire someone who knew how to type with capital letters! Paul also has a good point when he says that PRLN doesn't need someone to hype them. They have good products which will find their niche in the market. Once the product hits the market the stock price should take care of itself.

Of course, Paul doesn't need to be hired by anyone to paint a rosier picture than is justified. He has quite a few shares of PRLN in his portfollio. This might make him susceptable to the same problem that we all face. Anyone who is long this stock might have a tendency to view an ambiguous situation through rose-colored glasses. I know I had those glasses on when I was spinning my "optimistic" scenario behind Rhodes' resignation.

Robin M.
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