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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Bluegreen who wrote (10876)	7/22/1999 8:38:00 PM
From: aknahow	Respond to of 17367

I do not share a belief that biotechs will "enjoy" the same "Internet" period of speculative fever. Any nascent fever in the group will be cooled by the cold reality of FDA turndowns and subsequent 30 to 40% drops. These recurring bouts with reality will make it difficult to sustain a bubble for any period of time. The Oppenheimer report was also largely "factual". All the information was available on the web site. This is to be expected. There is no parallel world where facts are the opposite of what they appear to be to some of us mortals. Can a biotech stock run up for no reason or simply due to spin? Sure! But all the letter writers liked XOMA just as much when it was at $2 and their comments about it then did it no good. The brokerage ratings did not move the stock up. It would seem more logical to believe that pending deals and having involvement in three P III trials, one of which has been concluded, have more to do with XOMA's rise than spin or hype. Who cares if Harmon buys or likes XOMA or not? If XOMA does well will it not be more interesting to see how people who did not like it explain why it should not have gone up? Think Trauma, think Meningo results, think hu1124, think Allergan and BPI, think Mycopres. Don't think about those that have no interest in XOMA.