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Biotech / Medical : ARADIGM CORP. ARDM
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To: Marvin Frank who wrote ()5/14/1999 3:01:00 PM
From: BRAVEHEART  Read Replies (1) of 255
 
Hi Gang,

Apparently there is a fund which has been unloading around a million shares of ARDM since April. This would explain the stocks trend. The recent delay in the P-III trial didn't help. I would guess this stock should fully recover by mid to late fall. The P-III trial is now expected around the turn of the year. Between now and then a third P-II trial is expected to be partnered. No leaks on who the partner or product might be. Todays activity must be attributed to the Q report. I wonder how much stock Alliance Capital has to sell yet. I would think that once they are finished the downside pressure will end.

Jeffrey
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