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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE -- Ignore unavailable to you. Want to Upgrade?

To: F. Jay Abella, III who wrote (244)	11/12/1997 12:27:00 PM
From: Coha	Read Replies (1) \| Respond to of 670

Yea - it will be interesting to see the degree of discount we ultimately achieve. This stock has seen a ruthless selloff mostly predicated on issues outside of the operations (i.e. insider selling, tax loss selling). It seems arguable that the last qtr, although still a significant loss, shows the kind of trend that suggests the company is buying itself more "qtrs" of life into the future. Whether they ultimately have enough I guess is the question, but keep in mind they have no debt, leaving the book value to the shareholders. I realize we sort of beat a dead horse here with the valuation but the reality is the market is currently willing to give away assets to get out from under this stock. I've seen discounts before but this one stretches the boundaries to a degree. And that takes absolutely nothing operational into consideration. Who knows, we may ultimately croak on this one. But the most recent P&L gives me some hope that we are at least buying ourselves more time, which really is the most crucial parameter facing the company now. Coha