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Biotech / Medical : ARIAD Pharmaceuticals
ARIA 23.990.0%Feb 17 4:00 PM EST
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To: Mike McFarland who wrote (335)8/27/1998 9:46:00 AM
From: John Dwyer  Read Replies (2) of 4474
 
Hi Mike You're not the only one here!! I have been accumulating shares of ARIA on-and-off for several years now. I have not seen anything that has clouded the research/business plan of ARIA and their programs are progressing more or less on time. I was happy to see some of the compounds get identifiers... must be getting close to initiating clinical trials. Let's hope so. Ariad has really taken a beating as has many other great biotech stocks. I shifted about 3/4 of my biotech position into high tech positions such as DELL, LU etc earlier this year and that has offset some of my dismal performance in biotech. While I certainly understand biotech is in a bear market and that there has been many high profile disasters particularly at the Phase III/ Approval stage, I think many biotechs are being valued as if they will certainly fail. If you believe in the biotech approach to drug discovery, you have to believe that there will be some success... there must be some value to these companies. I am buying some platform companies, such as ARIA, and am looking at some "story" stocks such as GERN and SIBI. Some bigger names also look interesting (INCY, AGPH, GILD) as these may be the first biotechs the big institutions buy when (if??) biotech comes back into better favor. It's in times like these that I remember that Guilford Pharma traded at $2-3/share right after their underwriter croaked (the Blech fiasco). Pretty dark times for Guilford but a few years later they were 10-fold higher. I'd guess that quite a few of cheap biotechs struggling today will be 10-baggers over the next few years. The trick is picking the most promising ones!! John I may as well spout my risk-management philosophy as well... biotechs are a great investment in a diversified portfolio of individual stocks, stock and bond mutual funds, etc. I should also state that I am not qualified to give investment advice so please do your own homework.
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