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Biotech / Medical : PARANOID! TIRED OF TALKING TO YOURSELF? LET'S TALK(TTP) -- Ignore unavailable to you. Want to Upgrade?

To: Scott H. Davis who wrote (497)	9/28/1999 8:41:00 PM
From: Arthur Radley	Read Replies (2) \| Respond to of 626

I spoke to the company and was told about the two camps...for and against the conversion of the warrants. The anti's feel that at this time they need to get some stability in the stock price as they know that when an announcement is made, arbs will monkey with the common vs the warrants...resulting in the common shares dropping in price. I agree with the anti's and for these reasons: 1) The conversion rate for the warrant is set in concrete. The approximately $42 Million is a given....as long as they can keep the stock above this $9.00 level the clock is running for the call ...up to 2001. 2) What isn't set in concrete is the probability that we could get two(2) alliance partners in the near future. For one of the cancer projects and Parkinson's disease(if you heard the national news today, you know that Parkinson got a lot of attention in Washington D.C. with Michael Fox testifying before Congress for more funding). If we get this partnership, like with Novartis, the deal will probably include upfront payments and a equity stake through a common share purchase. Therefore, the higher the common shares the more money coming in from the partner. Therefore, with the warrant figure set, the variable is the alliance deal and it behooves TTP to keep the stock up in value. This is my reasoning and would like any discussion on my position....as long as you don't hurt my feelings.(:>)