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Biotech / Medical : Biotech Lock Up Expiration Hell Portfolio: Wave II -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (45)	8/6/2004 12:54:33 PM
From: tuck	Respond to of 107

Speaking of shorts, BLUE HP II will cover EYET here at $34 for a smallish loss, somewhat over a grand. The position was taken before PII results for Macugen looked rather good in diabetic retinopathy patients. If the stock were to come back much more, I'd actually consider buying ahead of the FDA committee meeting, as I think approval is likely. Questions might be raised about the possibility of infection with all those injections given in setting unlike those of clinical trials. But I think the vote will go Macugen's way. At that point, BLUE HP II might take another whack at it in the $40s, for the above reasons. Probably in two chunks. One on approval, another a ways after launch-- if it starts well -- when I'd expect that issue to start becoming manifest. Cheers, Tuck

To: tuck who wrote (45)	8/6/2004 1:17:04 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 107

>> But the capital structures are somewhat better this time around? << MUCH better. "ACADs" may fizzle, but they're not going to be Rigels. Thanks for the comments. Third time since '98, we get to buy biotechs for less than the VCs paid. >> Any of these look interesting enough to you that you've bothered with DD? << Just the one, and my DD doesn't mean much, neurology. Going to the beach with the kids. A week of clearing the brain and changing perspectives. Perhaps I'll dig into the newbies upon return? Alzheimer's.... the animosities are not new, and I've not seen recent tipping of the evidence balance. As usual, you're out on that limb alone here. Good luck!! :-) Be good! Rick