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Biotech / Medical : Pharmos (PARS) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (829)	6/17/1999 4:54:00 PM
From: Dr. John M. de Castro	Read Replies (2) \| Respond to of 1386

I took advantage of this pullback in PARS price to quintuple my position today between 1 11/32 and 1 3/8. I consider this a steal. PARS is now the single largest position in my portfolio. It still amazes me that the stock in a company with approved products whose sales are increasing and also with a potential blockbuster late stage pipeline product can be bought at this level. I guess I need to thank the Castle Creek folks for providing the opportunity :-) My decision to pull the trigger today was based on three factors; the reported decrease in the CC convertible shares to 200, the imminent announcement of a HU-211 partnership, and technical analysis. I've been a believer for quite a while in PARS fundamentals and have maintained a moderate position. However, I'm convinced that with the toxic convertible removed the artificial restraint on the stock price has been eliminated. In addition, I fully expect an announcement of a marketing partner for HU-211 in the next 30 to 60 days. Since there is bound to be a pre announcement run-up, I wanted to be a bit on the early side. This taken together with a chart that is looking stronger and stronger by the day produced the decision to jump in in a big way. I may be a little early. But, at these prices there is not much to gain by waiting longer. Time will tell whether I am right or wrong. Nevertheless, I'd appreciate the comments of others, especially on the TA. Best regards John de C