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Biotech / Medical : Texas Biotech (TXB)

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To: Andrew R. Sicotte who wrote ()	2/28/1997 1:32:00 PM
From: X. Fang	of 834

Reuters, Friday, February 28, 1997 at 10:35 -- Lehman Brothers said it initiated coverage of Texas Biotechnology Corp (AMEX:TXB) as a buy and set a $16 price target. -- said the company has advanced its lead compound, Navastan, in two late-stage studies. Expects the results of these studies to be positive. Two other programs also recently advanced into Phase I clinical trials. -- expects a corporate partnership to be announced in the second quarter of 1997 and perhaps another alliance in the second half of 1997. -- Texas Biotechnology gained 1-5/16 to 5-5/16.

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