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

To: Larry Dreher who wrote (11237)	8/16/1999 5:56:00 PM
From: dwight martin	Respond to of 17367

I think the study is probably just to the good side of inconclusive; even if it isn't (and we find out early in 2000 that the drug is great) we're screwed tomorrow. Those two guys sounded like they'd rather be applying tar to a roof with the hot mop in a 103 degree Texas afternoon than hosting a "conference" call.

To: Larry Dreher who wrote (11237)	8/16/1999 5:56:00 PM
From: William L. Molair II	Read Replies (1) \| Respond to of 17367

I think we will get a look at all of the data in October. For many, many weeks - Ellen Martin has been very specific in saying that the press release in August would be very non-specific. And it is. We need to concentrate more on what it does NOT say. It did not say that the drug doesn't work. Therefore, it either worked - or we aren't sure. Which of these options remain to be determined. Tomorrow will be painful (someone on Yahoo is quoting sub $5 a share afterhour quotes). How in the world someone would be willing to sell in a non-liquid environment on this news (or lack thereof) - I'll never understand.

To: Larry Dreher who wrote (11237)	8/16/1999 6:04:00 PM
From: LJM	Read Replies (2) \| Respond to of 17367

I listened to the call as well. I wish I had thought of this question while I was on the line>>> but it was over so fast>>> only two questions! In hindsight, I would have asked the following, but JC probably would not have answered the question anyways. <<What is the purpose of the FDA meeting exactly?? From the press statement, it would appear you do not know if you have adequate results to file for a BLA and need the meeting to determine if you do?? Is this a fair statement??>> I checked Instinet with my broker and there is stock for sale but not many buyers. I am long until the results are public, but was hoping for a little more in the way of info today as all of us were! LJM

To: Larry Dreher who wrote (11237)	8/16/1999 7:00:00 PM
From: Thomas J Pittman	Read Replies (1) \| Respond to of 17367

Looking back on the whole thing, we set ourselves up for this. Your question was 'why have the news release'. The answer is they had to since it was time to release earnings. Would tomorrow have been better if they hadnt said anything other than, ' we will talk to you in oct?" I dont know. Tomorrow is likely to be pretty bad, though. The stars aligned and i think jack was right. he HAD to say something, but he also HAD to keep the details to himself until the FDA has its say. I think this is one of the perils of riding what is a pony with one trick. Every quarter everyone only wants to hear one thing. If there is no news, it gets taken as bad. Damn. I was really hoping for something. I am tired of waiting. J