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Biotech / Medical : Cell Genesys (CEGE) -- Ignore unavailable to you. Want to Upgrade?

To: Steven Osborne who wrote (623)	9/18/1999 1:24:00 PM
From: Mark Adams	Respond to of 1298

I have to wonder why we celebrate partnerships with firms of Hoechst's caliber, but ignore their departure. It looked like bad news to me- but I'm holding too.

To: Steven Osborne who wrote (623)	9/18/1999 8:51:00 PM
From: Joe Bilich	Read Replies (1) \| Respond to of 1298

fwiw--the Bank Boston Robertson Stevens analyst reviewed CEGE after the announcement of the pullout by Hoescht. The analyst summarized it as a positive development and projected that CEGE would be successful in finding another partner for this work over the next 12 months. IR at CEGE characterized the development as positive as well, and indicated that, although nothing was just around the corner, they had received some inquiries from other parties about participating in this research even prior to the Hoescht pullout. Both noted that the Hoescht decision may be linked to more Hoescht's status (they are right in the middle of a merger, and probably rationalizing the research portfolio top to bottom) than to the quality of CEGE's science.