Hi David!
This post on Yahoo may help to open some eyes and ears.
Regards,
Don Walster
Know when to fold ¹em; know when to holdŠ
by: st7a7e80
4459 of 4464
Being concerned about the valuation of my investment in Pharmos (2,000 shares), I kept searching and digging until I found someone who could give dependable information. What I am about to relate, any of you can verify. The only reason I am not giving the individual¹s name is to forestall a barrage of callers who might use with this individual the same language they are using in this discussion. You can, however, discern my source if you read through the archives of Pharmos¹s back news releases.
What I learned is this:
(1) Pharmos is indeed in discussion with several pharmaceuticals ‹ not just one ‹regarding the Phase III trials of Dexanabinol (HU-211).
(2) Currently no other treatment is as effective for head trauma as is Dexanabinol. (My source went so far as to say Œthere is no other cure¹, but I wonder if terming Dexanabinol a cure is medically accurate, so I prefer to relate this conservatively. Having suffered head trauma myself, however, I can vouch for the _absence_ of a cure!)
(3) Annually, half a million people suffer head trauma.
(4) ONE (1) administration of Dexanabinol will cost $2,000. (Multiply that figure by 500,000; estimate the net; then multiply your number of shares by as many years as you plan to keep your investment!)
(5) Pharmos¹s major institutional investors number at least eleven. In descending order, they are:
C & O Fund Advisors
Scudder Kemper Investments
Dimensions
Panagora
Mellon Bank
Paine Webber
Northern Trust
Bear Sterns
First American
Fleet Financial
Merrill Lynch
Merrill Lynch¹s PARS investment is $50,000. Mellon Bank¹s is $71,000. Scudder Kemper¹s confidence-level is $1,800,000 (that¹s almost $ two million, folks); and C & O Fund Advisors, Pharmos¹s chief backer, has invested considerably more than has Scudder Kemper. I didn¹t ask C & O¹s total; I was interested primarily in the range invested by the names with which I am familiar. These figures are as of Thursday¹s (17 March) valuation.
And you can read for yourselves the insiders¹ activity ‹ all buys. CFO and VP of Finance Robert Cook, for example, has been accumulating PARS shares 2,000 at a time. He bought 2,000 in July, 2,000 in Black October, and another 2,000 just last month.
Myself, looking forward to tax-free profits, I have many of my PARS shares in a Roth IRA.
David Israel-Rosen (post 4436) is giving shrewd advice. Those who don¹t heed will bleed.
Pharmos survived last October. It will survive this blip in the continuum.
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