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Biotech / Medical : VICL (Vical Labs)

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To: Scott H. Davis who wrote (1027)	5/18/1999 4:48:00 PM
From: Gator II	of 1972

Scott..Don't you think all it shows is that there weren't that many small investors following the conference or, for that matter, that are even enthusiastic about smaller biotechs, at this time. FWIW, I especially believe that when the FED is changing it's posture toward tightening interest rates, enthusiasm is impacted across the board. With so many small biotechs heavily in debt (not VICL) scrounging for capital, interest rate jitters can't be helping the little guy to muster his courage to come into this sector. I kinda doubt the funds are excited at this time either and besides, they typically don't jump on news releases. In a week or so, after today's news is digested, we might all be surprised on the strength of this sector(smaller biotechs in particular) again.

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