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Biotech / Medical : CLTR COULTER PHARMACEUTICAL -- Ignore unavailable to you. Want to Upgrade?

To: Russian Bear who wrote (540)	3/29/2000 10:41:00 AM
From: Bob L	Respond to of 666

Prudential says the downgrade is based on current valuation and continued uncertainty with the timeline for resubmission to FDA. "Our forecast timeline for the BLA resubmission appears to have been aggressive and we are pushing out expectations from the end of 1Q00 to the end of 2Q ... Upside still exists ... we would advise more aggressive purchases on pullbacks."

To: Russian Bear who wrote (540)	3/29/2000 11:37:00 AM
From: Cheryl Galt	Read Replies (1) \| Respond to of 666

The 3-page 3/29 Prudential report is free at Multex Investor. multexinvestor.com Bob quoted the main item. There's also a comment on the patent: Additional upside may exist for the stock if the recently issued patent covering radioimmunotherapy for the treatment of NHL results in Coulter receiving royalties on future sales of IDEC Pharmaceuticals? Zevalin when it is commercialized in 2H01. However, we would not base an investment decision on a favorable outcome for Coulter at this time as this issue is far from resolved and further clarity may not occur in the near-term. and on the current biotech market (Ouch!) Our lowered opinion is primarily driven by valuation; CLTR shares have performed exceptionally well despite an unsettled biotech market and are up 85% year-to-date vs. 30% for the biotech index and 3% for the S&P 500. However, it is our belief that continued market outperformance in the near term may be difficult from current trading levels, especially given the choppiness of today's biotech market. -------------- Prudential aside, Coulter is holding its own lots better than a couple of my other stocks today. CEGE and GLIA deserve better treatment than they're getting. I sure hope this is the bottom ... Cheryl