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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Alan Newman who wrote (1081)	12/17/1997 1:12:00 PM
From: Douglas	Read Replies (1) \| Respond to of 7041

Does anyone have a subscription to EDGAR ONLINE? If yes, how many shares and what individuals are selling? Holders Register Zonagen Inc. Stock Select Federal Filings Newswires, 12/17/1997, 320 words. FORM 144 ISSUER: ZONAGEN INC. SYMBOL: ZONA THE SEC EDGAR ONLINE DEFINITION OF 144: This form must be filed by "insiders" prior to their intended sale of restricted stock (issued stock currently unregistered with the SEC). Filing this form results in each seller receiving an automatic exemption from SEC registration requirements for this one transaction. A Form 144 is NOT an EDGAR electronic filing; each 144 is filed by the seller in paper during the day at the SEC. EDGAR Online cumulates and adds all of the current day's 144 paper filings to our electronic database at the END of each business day. The value of the EDGAR Online end-of-day listing of 144's is that the first notification of a 144 filing sometimes is the precursor of other 144 filings. 144 sales frequently come in clusters caused by events such as the end of a "lock-up" period or stock options being exercised and can be used to successfully project the onset of increased "sell side" activity in the stock of the target company. Other uses of 144's include targeting individuals who will be coming into money and may wish to deploy such funds. Thus this timely information is the source of myriad business intelligence uses.

To: Alan Newman who wrote (1081)	12/17/1997 2:35:00 PM
From: Bill Wexler	Respond to of 7041

Hi Alan. The Schering deal is a red herring. Major Pharms make these sort of deals with development stage companies all the time. Even though most of them never pan out, the hope is that one blockbuster will make up for the rest. You'll be surprised to learn that many times, licensing arrangements wil be handled by the marketing arm of these firms and will not receive close scrutiny by in-house scientists. If you want an analogy, think of Intel making strategic investments in hardware/software/internet startups before they earn a penny. I'm guessing that Schering wanted to dip its toe into the ED market since Pfizer introduced Viagra. Unfortunately, they picked the wrong pony. A close reading of the 10-Ks will show that Zonagen has done several development/licensing deals in the past; however, they have never delivered anything...that's why their main source of revenue is the sale of stock. BTW, take a close look at the sales of preferred shares and the conversion prices. Much noise has been made about the shills regarding the Schering deal. The implication is that something big must be going on if Schering is involved - and we shouldn't question the efficacy of Vasomax...instead we should become new victims and buy this worthless stock. Don't be misled or misdirected. Do your own research about Vasomax. Finally, I should point out that the shills claim that 4 big drug companies "bid" for the right to license Vasomax. This is an outright lie. Zonagen is a stock scam, and I am very confident that the stock will trade significantlly lower. Regards, Bill