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To: kendall harmon who wrote (57301)	8/24/1999 2:06:00 PM
From: kha vu	Read Replies (1) \| Respond to of 120523

LIPO: Thanks.

To: kendall harmon who wrote (57301)	8/24/1999 3:56:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

LIPO you long? been waiting for it to correct?

To: kendall harmon who wrote (57301)	8/24/1999 4:19:00 PM
From: KM	Read Replies (1) \| Respond to of 120523

Tuesday August 24, 3:55 pm Eastern Time OPTIONS - Liposome implied vols edge even higher CHICAGO, Aug 24 (Reuters) - Implied volatility crept even higher Tuesday in options on Liposome Co. (Nasdaq:LIPO - news), although volume had tapered off, as the market eyed a mid-September federal panel review of a Liposome cancer treatment drug. Implied vols for September 22.5s firmed to 138 percent, up from around 130 percent late last week and well above the stock's one-month historical volatility of about 76 percent. On August 19, the New Jersey-based biopharmaceutical company said the U.S. Food and Drug Administration scheduled its Evacet for oncologic drug advisory committee review on September 16, seeking approval to use Evacet combined with cyclophosphamide for metastatic breast cancer. ''It's (vol rise) going to happen, going into the drug announcement,'' said Ben Nitka, designated primary market maker with Option Resource Group at the Chicago Board Options Exchange. ''It's (FDA panel review) a one-time event...so I don't see it (vol rise) as anything unusual.'' On August 11, Liposome entered a clinical trial pact with Rhone-Poulenc Rorer Pharmaceuticals to test the safety of Evacet combined with Taxotere for breast cancer treatment. Daily option volume has edged off, however, after peaking last week at around 1,900 contracts. At 1427 CDT/1927 GMT Tuesday, roughly 550 calls and 240 puts had changed hands. ''Volume has dried up a touch,'' Nitka said, ''Put buyers have driven prices up'' and traders might be waiting to see if vols come off again before the FDA committee review. Shares of Liposome were down 2-15/32 at 22-1/2 on Nasdaq mnarket volume of 900,400