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Biotech / Medical : ARIAD Pharmaceuticals

ARIA 23.99

0.0%

Feb 17 4:00 PM EST

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To: Jongmans who wrote (494)	2/9/1999 9:23:00 AM
From: Biomaven	Read Replies (2) of 4474

Here's an excellent recent article in the National Law Journal on floorless instruments: ljx.com It's been my observation that the majority of companies that issue floorless instruments do very poorly. It's of course hard to tell whether this is because of the floorless itself or because the fact that they had to resort to one in the first place is indicative of their weak financial position to begin with. ARIA is of course not the first biotech to resort to a floorless instrument - other examples are GZTC and more recently XOMA. If the underlying fundamentals of the company improve, the floorless becomes much less significant. If they deteriorate, watch out below! Peter

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