XILLIX FDA APPROVED Message Board

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Biotech / Medical : XILLIX FDA APPROVED

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To: burner who wrote (308)	9/9/1998 11:42:00 PM
From: Garry K.	Read Replies (1) of 572

It looks like the 1.2mill cross was from an institutional investor. I spoke with IR this morning, and they seem to think this certainly was the case. IMO I think there has been several institutional fund managers (especially small mutual funds under 100 million) who have been forced to liquidate positions to meet redemptions in this market.If you have a small fund predominately in small cap companies, it is very unlikely in many cases that the manager is able to have a significant cash position to act as a buffer to meet redemption obligations during periods of high volatility. This scenerio may have been what we saw yesterday. Any comments? I asked Laurie if there has been any negative developments. The only developments she could think of is the company has its strongest cash position ever, development of the LIFE applications are progressing smoothly, and sales continue to develop. My question is..... how does the market valuate this company at a market cap under $24 million? Wish I could have come up with the cash to snap up 1.2million @ .75! Guess I will have to look at a smaller block:) Good luck Garry

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