QDEL - Quidel more quick diagnosis Message Board

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Biotech / Medical : QDEL - Quidel more quick diagnosis

QDEL 27.35

-0.5%

Nov 28 9:30 AM EST

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To: steve dietrich who wrote (287)	12/26/1996 5:31:00 PM
From: Mike Relyea	of 1693

Steve, $1.75 for QDELW is a steal. I bought some a few weeks ago for $2.00. The strike price for QDELW is $7.50, and since you're paying about $2.00 less for QDELW than QDEL, your only paying about a $5.50 premium for QDEL by buying the warrants. A few days before QDELW expires in May 2002, QDELW will sell for approximately QDEL less $7.50. What do you think QDEL will be five and a half years from now? Principal Financial Securities 7 October 1996 report for Quidel projected an $0.81 eps for Quidel's year ending 31 March 2001, a year before the warrants expire. If Quidel's earnings are 30 percent above Principals for the year ending 31 March 2002, then its eps will be about $1.00. Quidel should sell for at least a P/E of 30, resulting in a price of $30. I'd like to be holding as many QDEL as possible on May 2002. Buying warrants allows someone to buy more QDEL. $7.50 will be a bargain price to pay for QDEL in May 2002. Quidel could do much better than Principal's projected eps, especially if Quidel hits it big with some of its pipeline products. The flu test could be a big money maker. GLX recently completed its phase II study. I haven't heard the results, but I'd expect GLX to announce any day that it will proceed with phase III. If GLX's drug GG167 is successful and Quidel's test is successful, Quidel will be much, much higher than $30.00 in 2002. Search Yahoo for "GG167" for some interesting information about GLX's flu drug. Mike

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