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Biotech / Medical : ATIS is on the move! -- Ignore unavailable to you. Want to Upgrade?

To: Harry D. Kramer who wrote (1193)	12/4/1997 11:15:00 PM
From: Marshall Teitelbaum	Respond to of 2205

Harry, I think you will get your X-mas wish, and likely very quickly, as 15 should come soon enough in anticipation of the meeting, along with the end of tax-selling and some rebounding in biotechs. After the plunge of Agouron the other day, many other San Diego biotechs also got hit, but only in a reactive manner, and now the prices seen in the past should get retested. I figure at least the 15-17 range along the way toward jan 29, as long as no news about all of this changes. Short covering could influence things, but I hope not excessively so, although Reuter only released their article about the meeting after the close...I think it was after 6pm...so many will first be seeing the news and could influence things tomorrow. As much as we all want to see a dramatic increase, nice orderly increases are more sustainable, and more likely to lead to continued growth after a panel recommendation, vs. a rapid rise to a ridiculous level in anticipation which could lead to a sell on the news kind of reaction, especially with the large market cap. What's considered getting ahead of itself becomes the next question....it had been as high as the low 20s after good news about dermagraft over the last 18 months, and the company is obviously worth more in terms of its potential now than at that time, but I would think we'd be better off seeing the 20s get tested after a positive recommendation frankly. It was interesting how the shareprice started going up yesterday on a bit heavier volume than the previous few days, and this am and early afternoon before the news was out there looked to be gradual rising in share price...although the big move wasn't until later in the afternoon. If you also own IMNR, congrats....very good potential in a very interesting company. Take care, Marshall