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Biotech / Medical : VITX - new IPO with room to grow
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To: Street Walker who wrote (10)9/24/1998 9:53:00 PM
From: Ariella  Read Replies (1) of 37
 
Actually the PR guy was around because I spoke to him, as well as the CFO, yesterday. I regret having bought more stock subsequently, not because they said anything bad, but because the company is acting too much like a private company and too little like a public company in terms of shareholder responsiveness. When I did the original DD, I got my info from sources that specialized in IPOs. By now I expected at least a website from the company and there is none.

Since I invest in another biotech that launched products this summer, I have no trouble believing this is not a great time to launch products.
But the company is at the mercy of American Red Cross to do its launch work and, judged by their website, it's unclear how big a push they're making.

Frankly, it does not warm my heart to imagine that VITX might use its cash for a share buyback since there's already only 3 million float. What are they going to do -- buy themselves back to private status? Actually, an emerging company in this type of field has no business buying back stock -- they ought to be investing that money in their business.

Intraday chart action was unencouraging today. I don't know what I'm going to do with my shares. If anyone figures out a reason to stay, I'd be interested to hear it.

-Ariella
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