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

To: Icebrg who wrote (836)	5/2/2003 2:37:16 PM
From: CrayUSA	Respond to of 7424

LEXG--alert + 10% only. Thought it was worth the post though. upgrade target 8-12. Cray

To: Icebrg who wrote (836)	5/5/2003 12:26:22 PM
From: Icebrg	Read Replies (1) \| Respond to of 7424

Cortex (COR) + 23 % Another interesting day on the job for Cortex. The share price fell back Friday after my jinx here, but it still qualified for fireworks status without any problems. At the current share price of 1.80 the price has risen a dollar but a cent in less than a week. Not too shabby for those who hold some. Otoh. we are still not back at pre-Shire return levels, so the color in the real life portfolio is still distinctly red. There are three main theories why the price has gone up with such a ferocity. 1. The company has travelled the country having Gary Lynch - company founder and main scientific engineer - presenting the case for the company and its products. Lynch is supposed to be an engaging speaker (apart from being a lot of other things). Someone might have been impressed. 2. The company is - as is its fashion - running on fumes. They cannot even afford to order a batch of a second-generation product candidate, which is supposed to be much "better" then the current crop. Rumors of some kind of funding has surrounded Cortex since the beginning of the year. So far nothing has come out of the pipe. Some feel that they now (monetizing on Lynch's efforts) have got their hands on some funding. I am not sure I like that theory so much. Funding normally means dilution and a sour reaction from the market. Although some additional dollars would no doubt be of great help. 3. The company is rumored to be about to license out some of its crown jewels to a major US pharma (read maybe Lilly). Such a deal would bring in not only dollars for the further development of the company business, but also some validation of the company's product (candidates) and concepts. Cortex main business asset is the patent-protected control over agonists to a complete family of glutamate receptors. Which is of course not a bad thing at all, if someone is able to figure out what a manipulation of these receptors will bring. Work is on-going. A PubMed search on AMPA-receptors brings up a surprising number of hits. It's not only Lynch and his friends at the University of California in Irvine, who are interested. I tend to believe that the correct answer is a combination of 1 and 3. But who knows - perhaps it is just another game played on us by daytraders and momentum players. The market cap is limited. About 30 mUSd at the current share price. Normal turnover is very limited. Often less than 10.000 shares a day. So, if there is some kind of real buying (or selling) interest, it tends to move the price unproportionally much for the amounts involved. Erik And while I wrote this the firework indicator fell back to 14,3 %, but I am going to post it anyhow.