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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (1170)	11/1/2003 6:18:55 PM
From: rjm2	Respond to of 1833

The discount suggests the market is worried about that as well. They wouldnt have to do a rights offering. I mean, they could always do a secondary. But at least with a rights offering, you have a chance to buy on the same terms as Ichan. I participated in a rights offering years ago where the insiders were going to buy it all....if shareholders didnt. But they ended up letting us little guys get all we wanted before they got theirs. That is, we could buy all the EXTRA shares we wanted before they could. they still had their entitlement shares.

To: Tomato who wrote (1170)	11/2/2003 11:34:29 AM
From: MCsweet	Read Replies (1) \| Respond to of 1833

Tomato, I'm not happy, but the news could be worse. I am guessing Icahn will likely be able to increase his ownership at cheaper prices through a shareholder rights offering. I hope the acquisition is on the smaller side, because the incremental value of our assets (cash, loss carryforwrds, licenses/patents, etc) get diluted as the size of the firm increases (for example, an incremental $10 million on $30 million is a lot better than $10 million on $90 million). MC