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Biotech / Medical : SYNTHETECH - NZYM -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (337)	9/25/2000 7:58:42 PM
From: keokalani'nui	Respond to of 372

Guys, I have held this paper for a long long time. Too long, because in all that time the business model has not been proven, and may have been disproven. With this, I think the company say a lot in its 10K: <<In the past, the Company has not had a significant amount of direct competition for discovery and clinical trial stage drug development projects. The Company believes that this resulted from peptide and peptidomimetic small molecule drugs, particularly those which utilize synthetic amino acids, being relatively new and the market for PBBs relatively small. As the market has continued to grow with multi-ton order sizes becoming more prevalent, the Company has begun to see more competition. Current competition in the multi-kilo or smaller quantities of natural amino acid based PBBs comes primarily from several European fine chemical companies. Multi-ton order sizes of these natural PBBs have begun to attract a wider group of domestic and international chemical companies. In the area of synthetic amino acid based PBBs, the Company has competition on a selective product basis from fine chemical producers in Europe and Japan. Competition from companies in developing countries, such as India, China and Korea, is also starting to emerge. Competition has also increased for supplying PBBs for drug development programs that reach late clinical trials and move into an approved status as a result of increased uantities typically required at these stages and pharmceutical company requirements to have second sources of material available. The Company's competitors have technical, financial, selling and other resources available to them that are significantly greater than those available to the Company.>> ENZM is a hugely admirable little outfit operated on honest principles, and I am sorry to slam it, but I am looking to escape from its continuing line "I can't tell you what we're doing because its confidential" soon. Just to match my mood, I will surely pull the trigger right before a significant break-out. (Though an asset sale looks more likely to me). --Wilder