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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (1280)	7/20/2005 11:35:13 AM
From: Jibacoa	Respond to of 3722

Mike, CRGN seem to be making a comeback.<g> Today it tried to get over the resistance at 6.25 at 9.33AM & 9.37AM but the market wasn't helping,with uncle Al ready to start speaking.<g> The stock drifted to 6.05 at 10.42AM but now is coming back after an uptick of 2.8Ks from 6.06 to 6.08 <g> It has to get over 6.20 where it has some intraday resistance in order to be able to retest the 6.25 If it can close above 6.25 it will probably be able to test its February 8 H at 6.37 The stock needs to close above its January H of 7.28 to get off from the longer term downtrend coming from the January 2004 H at 9.53 The 1st Q loss was 3 pennies higher than in 2004 but revenues were 112% better at $3.4M vs. 1.6M and the EL for this year is around $1.70 vs. the $1.81/shr in 2004 As previously mentioned,it reported last month that results of the PII on its CG53135 suggest that velafermin not only may prevent oral mucositis, but also may protect the GI tract and prevent some post-radiation enterocolitis. <g> CRGN reportedly has more than $5 in cash/shr although it has been burning cash at a good clip.<g> The insiders hold more than 10% and bought some stock last December. The results for the June Q will probably be better than in 2004 since last yr. the revenues were 25% lower and the loss/shr was $0.57. The results for the Sep.Q will probably be a little harder to beat.<g> The stock has been stalling at the 6.14 level in the last few minutes as I have been typing.<g> Bernard