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Biotech / Medical : ARADIGM CORP. ARDM
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To: Marvin Frank who wrote (34)5/23/1999 6:23:00 PM
From: BRAVEHEART  Read Replies (1) of 255
 
Hi Marvin Frank,

ARDM has two drugs in P-II development. The one for morphine and another for Insulin. A third product is in negotiations supposedly.

ARDM IR has suggested going back to April 1998 that it would announce a third targeted market. They have yet to deliver on this promise. Could be fluff. When I spoke to IR they suggested it was a familiar product addressing a major market. But that they could not say just yet what it is. Creating false expectations is a certain path to poor stock performance. However given that the stock is at a relative low one could easily argue that if such an announcement takes place the stock would be considerably undervalued at this time.

I still have been unable to figure out the rally recently. My guess is a regional media source picked up on ARDM's story. No doubt a newspaper given the one day rise in volume. The interesting fact is in how little volume it took to see the stock trade from $6 to $8. Hence a significant news story should be met with little resistance.

Best Wishes
Jeffrey
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