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Biotech / Medical : Shaman Pharmaceuticals has been moving on big, relative,
SHMN 0.00120-7.7%Nov 26 10:41 AM EST
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To: bargainman who wrote (345)2/1/1999 9:54:00 PM
From: Daniel Shaffer  Read Replies (1) of 838
 
Re. Shaman's New Direction

Thanks for calling my attention to the news release, Bargainman!

I can't believe they were so easily blindsided either. Maybe this was their first experience with the FDA. I suspect the steep fall in the stock price was the result of massive insider selling as panic set in.

The decision to focus on the botanicals is a gutsy decision, and at a minimum, the cutbacks should greatly reduce their burn rate. It is a hard lesson for Lisa Conte and the other founding officers, and I wish they had heeded suggestions to move into botanicals and some other novel markets long before this.

I do believe that there is value in their proprietary portfolio of
botanicals, but I dearly hope that the "pharmaceuticos" who
got Shaman into this situation don't try to micromanage the
marketing pros hired to manage the botanical thrust. Shaman
could very easily wind up being top heavy with upper management
types hanging on to their well-paid jobs while adding little value
and creating a drag on the bottom line. Shaman cannot afford
to do this.

If Lisa and the others at Shaman really care about the shareholders,
they will make some painful (and hopefully voluntary) cuts at the
top to reduce overhead expenses.
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