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Strategies & Market Trends : Trader J's Inner Circle
NVDA 186.23-0.5%3:59 PM EST
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To: Trader J who wrote (1083)12/6/1998 10:34:00 PM
From: Hands Off  Read Replies (1) of 56537
 
ZILA - Biotech good for a point or two?

I heard about this stock last week on the radio driving home from work. I watched the price/volume action as it moved from 7 to 9 and finally bought on Friday 1000 & 8 7/8. It is not a net; it moves slowly popping a little at open, dipping during the day and then coming back strong at the end.

The big news is that the FDA will meet 1/13/99 to consider their ORATEST drug which is an oral rinse test for mouth cancer. The full scope is here:

Message 6437176

Notice that analyst quoted in the II article has a price of 9 - 10 but there still may be some room to go.

I like the fact that this is not a phase I, II, III issue but that the FDA will meet at 13:00 on 1/13/99 for a recommendation - don't think it is a Friday <g>. If memory serves ORATEST is already being marketed in Europe. I like the volume which could indicate accumulation but could also be short covering - I am not sophisticated enough to know.

I don't like the 35 mil outstanding shares nor the fact that the company operates in the red.

Do your own DD. I will be selling before the FDA meeting because if the FDA denies the stock will tank and even if there is approval I have seen Bio's drop after as approval is already built into the price.

I hesitate to post anything because I am not a very good stock picker. Good luck, do your own DD and let me know what you think.

Marshall

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