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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: OpusX who wrote (988)	9/30/1999 7:20:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 1438

Robert, I just looked at the financial and recent action. The recent decline is probably due to the impending secondary and the weak market in general. Assuming that the secondary occurs around current prices at $15/share it will add a good $60 MM to the coffers, that should suffice, IMHO to the actual launch of the product. Do you know of any indications that the drug actually works? If it does, it should also have a role in fighting obesity (just a wild guess, but if you direct enhance to consumption fatty acids in lieu of glucose, would guess that the lengthy liver route would be short circuited and thus reduction in fat deposition could be possible). The valuation of the company with about 20 MM shares at $15 would be about $300 MM (I am adding a good margin for options), so, if indeed they have a gang busting drug, it is not an outrageous valuation. The real question, of course, is how far have they gone in their development. With $60 MM in the coffers they should have about 3 years of cash to "burn", is that a sufficient amount for hat they need to do? Zeev