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Biotech / Medical : Biotransplant(BTRN)

BTRN 35.18

0.0%

Dec 18 4:00 PM EST

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To: Arthur Radley who wrote (100)	10/5/1998 12:09:00 PM
From: scaram(o)uche	Read Replies (1) of 1475

TD: One comment...... >> I've voiced my opinion about the latest deal, but had no affect on the die-hard Robinson believers. << Given good prospects and at a certain point, it's often wise to get off an SOB's case and join his team. I've been critical of Lgand for two years, as Robinson has abused his own shareholders to build breadth in the business. As a result, the upside is now necessarily distributed over many more shares, those sold to pharmas, etc. Those that invested two years ago will never see that 10X that they dreamed of. They were naive. However, that doesn't mean that it's a bad investment going forward. It's certainly not on my top ten list, but it's got potential. Bottom line on Robinson.... he has not sought money when money was easy to get. Instead, he has opted for debt (Glycomed's and Lgand's very own) when money was scarce. Rick

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