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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)
VEEV 244.06-9.8%3:59 PM EST
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To: Stock Watcher who wrote (7244)4/25/1999 2:50:00 PM
From: jim0z0  Read Replies (1) of 52051
 
What do people think of a stock I'm interested in called DepoMed - symbol DMI. The stock got hammered last week (dropped from $14 to 4) after Bristol Myer Squib decided to terminate a strategic alliance with the company. I know one or two people that work at DepoMed and am impressed by them. Seems like the market has overreacted to this news that came out Wed. The company has plenty of cash. Of course, the stock may not move substantially back up until they can announce one or two new strategic alliances.
One might say that the revenues of DMI are not strong enough support a higher stock price, but the stock stayed in a range of $9 - 14 for a year - and I believe that the Bristol Myer Squibb relationship was not their biggest customer.
It should be an interesting one to keep an eye on. What do people think?
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The press release from Wed. included this info:
DepoMed said despite the setback, its business fundamentals remain solid as it continues working on projects and possible
alliances with other pharmaceutical and medical supply companies such as Johnson & Johnson (JNJ - news) and even the
consumer products division of Bristol-Myers.
''We have approximately $7.5 million of cash with a well managed (cash) burn rate, and are confident in our ability to
successfully move our business forward,'' said Chief Executive John Fara.
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