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Biotech / Medical : NEORX(nerx) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Land who wrote (541)	7/11/1999 10:46:00 AM
From: OldAIMGuy	Read Replies (1) \| Respond to of 661

Hi Jim and Peat, Yes there's a convertible Preferred. I'll have to look up the details at my office on Monday, but its value today is for the yield, not the conversion price, I'd guess. The ticker is NERXP if you want to put it on your watch list. I'd guess that its price range over the last 1-2 years has been as high as about $27 and as low as about $13. Like many convertibles, it tracks the common stock but on a delayed basis on the way down. It also acts to lead the common stock up when something good is happening inside the company. Well, it followed NERX down, now we can watch for signs of life if it starts back up. The Preferred pays semi-annually. I cash the check immediately!!! With a mix of the common and the Preferred, we can achieve the equivalent of Money Market Rates which eases some of the "time-value" issue of holding this stock. At least they pay us to be patient! Best regards and more on Monday, Tom