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Biotech / Medical : TheraTech (THRT)

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To: Robert A. Gleason who wrote (35)3/10/1997 2:43:00 AM
From: Rick Strange   of 125
 
Robert,
I just established a position in THRT this last week. I had been waiting for a pull back from the euphoria of the Lilly partnership announced Jan 14th.

THRTs' transmucosal delivery system has already demonstrated its feasibility in Phase I/II clinical trials of GLP-1. Peptide drugs can currently only be delivered by injection since they are distroyed in the digestive system. Lilly markets many peptide drugs, such as insulin, heparin and growth harmones. The deal calls for Lilly to fund the development of up to six peptide drugs. The specific financial details haven't been disclosed yet.

Also on the positive side is Procter & Gambles' roll-out of Alora, the esrogen patch. THRT's once a day testosterone patch should also generate income this from U.S. sales to add to the income generated abroad.

For a biotech currently generating a profit, with a strong pipeline and substantial corporate partners, it is substantially undervalued at current prices.

Rick
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