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Biotech / Medical : AMLN (DIABETES DRUGS) -- Ignore unavailable to you. Want to Upgrade?

To: Doorman who wrote (1640)	9/1/1999 8:41:00 PM
From: arnie h	Read Replies (1) \| Respond to of 2173

<Thanks Arnie - one more question, how did you arrive at the $8.00 loss figure> D: Page 37 of the 1998 Annual report - "At Dec. 31, 1998, the Company has federal, California and foreign tax operating loss carry forwards of approximately $242M, $22M and $6.5M (my rounding), respectively." Since then, the accumulated loss has deepened so dividing by the number of shares now out (37M), you get something near $8 a share. I've not taken into account the shares involved with the financing early this year so it would be somewhat less. At any rate, the general idea is the same. One other point raised in the 1998 report is "The federal tax loss carryforward will begin expiring in 2002 unless previously utilized." J&J owns some of AMLN so the cost to them would be commensurately less. I don't consider this line a sure bet at all, but it sure seems more practical today than yesterday. Arnie