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

To: Biomaven who wrote (6573)	6/13/2002 1:19:06 PM
From: Jibacoa	Respond to of 52153

The current Senate hearings on the insiders trading on IMCL seems to be having a further negative effect on the already impaired investor's confidence after the Enron & Tyco problems as the DOW and the NAZ remain on negative territory for the day. However, IMCL itself is showing some positive action and may test its June 5 H.<g> Maybe some good will come out of the hearings as some senators don't seem to have an idea of the complexities of bringing a drug to market and going through all the hurdles of getting an FDA approval Bernard

To: Biomaven who wrote (6573)	6/13/2002 8:05:29 PM
From: Clappy	Respond to of 52153

Any of you follow ATIS? It's gotten wacked pretty hard possibly due to the anticipation of dilution of more shares being sold off by the company. In addition they've been dropped from the Small Cap 600. I'm wondering if we've seen capitulation with this one. Look at the volume down. Was there a baby in that bath water?

To: Biomaven who wrote (6573)	6/14/2002 10:01:53 AM
From: Elmer	Read Replies (1) \| Respond to of 52153

To Peter and All, I thought I read somewhere that a new director of the FDA was going to be appointed this week. Did I imagine it? If an appointment is made, do you think it will have any effect on biotech stocks or will it depend on the individual? BTY, NASDAQ composite is now below 1450 which is the third lowest trade since 9/11. I have my trash can nearby in the event that my breakfast doesn't agree with me. Regards, David

To: Biomaven who wrote (6573)	6/26/2002 3:23:24 AM
From: Doc Bones	Read Replies (1) \| Respond to of 52153

Alas, in the current environment, even if the hoax had been true, it might not have had much more effect than it did. <g> This one is not true either, but it sure shows how far we have fallen. They used to post fraudulent stories and reap hundreds of thousands. Now they buy $500 worth of stock, and nobody pays any attention anyway. Doc p.s. to SEC: There may be some bigger fish out there to fry too. online.wsj.com Georgia Teen Settles SEC Case Over Bogus Posting on Internet By JUDITH BURNS DOW JONES NEWSWIRES WASHINGTON -- A Georgia teenager settled a Securities and Exchange Commission proceeding claiming he posted a bogus news story on Internet message boards last month to boost shares of Viragen International Inc. Benjamin Snyder, a 17-year-old high-school student, settled the matter without admitting or denying SEC allegations he created a news article made up to look like a Bloomberg.com article, reporting that the Food and Drug Administration had approved a Viragen drug to treat anthrax. The bogus news story, which carried the name of a real Bloomberg reporter, said Viragen's stock was expected to multiply six- or seven-fold. "It was absolutely false," said John Reed Stark, director of Internet enforcement at the SEC in Washington. "It was an effort to capitalize on the anthrax scare." However, SEC officials said there was no evidence the postings on the popular Raging Bull message boards (www.ragingbull.com) generated any interest in the stock. "We found no one who read the postings and believed them," said Mr. Stark. In fact, he said one reader alerted the SEC to the postings as a possible scam. Benjamin Snyder used a computer at the Lawrenceville, Ga., public library on May 13 to spread the fake report, the SEC said. The teenager owned about $500 of stock in Viragen, bought through an account opened by his father, a Lawrenceville minister. When the first posting failed to budge the stock price, Benjamin Snyder posted the story again, two days later, regulators said. Mr. Stark said the attempts to manipulate the stock market and evade detection by using the library's computer failed. "We caught him in about a day and a half." Benjamin Snyder admitted to the alleged scheme and, since he made no profit on it, the SEC didn't impose any fine or require him to fork over any ill-gotten gains. He settled the SEC administrative proceeding by agreeing to a cease-and-desist order. "We feel we were treated fairly. Ben is glad to have this behind him and has learned a valuable lesson," said his attorney, Jonathan Peters. Mr. Peters said Benjamin Snyder didn't profit from his online activity "and probably lost some." His father sold his shares and liquidated his account after the alleged scam was uncovered. Benjamin Snyder isn't the first teenager to run afoul of the SEC. For instance, a 15-year-old, Jonathan Lebed, of Cedar Grove, N.J., settled with the agency in 2000, repaying $285,000 of gains allegedly made through online stock fraud. Write to Judith Burns at judith.burns@dowjones.com Updated June 25, 2002 9:15 p.m. EDT