CNSI Cambridge Neuroscience Message Board

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Biotech / Medical : CNSI Cambridge Neuroscience

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To: Miljenko Zuanic who wrote (60)	1/9/1997 2:10:00 PM
From: James Silverman	of 675

Miljenko, You hit on a couple of major issues in terms of technically trading biotechs. It is technical in terms of changing the float and adding supply to the supply and demand equation in which technical trading is based upon. This is a big reason why a stock will often fall after announcing a secondary offering, as technical traders quickly hit the exits. Long term a CNSI 2M share offering at $11-$12 is probably a long term positive, as they needed the cash and the share price is reasonable. Short term, as you witnessed, it caused a pullback into what had been a reasonably strong stock.

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