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Biotech / Medical : AXYS Pharmaceuticals Inc.
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To: VegasMan who wrote (251)3/30/1999 8:23:00 PM
From: G-MAN  Read Replies (1) of 455
 
I talked w/Inv. Relations this AM. They do not know why or who is dumping shares. They reiterated that one or two preclinical drugs may reach trials by the end of the year. In addition, Bayer is expected to put the asthma (sp?) drug in trials before year end.

My guess is that investors perceive this company to be low on getting results due to the setback beack in September with the previous version of the Bayer drug. It may be that the market considers this to be a research "house".

IR detailed the various programs and the values behind them. FWIW, in their opinion, & mine as well, this company is undervalued. The annual report is due out in late April.

IR also mentioned that the company will be heading over to the East Coast & Europe to talk with analysts, investment managers, etc. It seems that they are at least proactive with raising interest amongst the investment community. IR also mentioned that the AGR subsidiary will probably be announcing some news this year, but nothing in the order of the Millenium - Monsanto deal.

My guess is that until a few of their drugs begin to move into late stage trials or they announce more MAJOR deals, we have a $3 - 4.5 stock on our hands.

If you are a believer in this company, then use caution and buy more.

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