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

To: Harry D. Kramer who wrote (1246)	12/18/1997 8:02:00 PM
From: Marshall Teitelbaum	Respond to of 2205

Harry, You forgot to say for how long with that X-mas wish....got to 15 on 12/8 for a bit :) Remember the other thing I said as soon as it was clear that it wasn't going to keep rolling at that time was to keep in mind the options issue, with expirations tomorrow....it looked like we'd see something between 12.5 and 15 to avoid the 12.5 puts and the 15 calls, and sure enough...at least until tomorrow, but I'd be surprised to see it close under 12.5, although anything is possible, obviously. Regarding short arguments...after reading the Avalon sell short/sell recommendation of several months ago, it appears that the Hecht argument still loves on, as people look at the initial study results without keeping in mind the "therapeutic range" issue, and than figure the product is iffy. Also, people don't psychologically really like to cover on the way down if they don't have to...kind of like we all would prefer not to sell on the way up, but the top instead...like we can all do that, right? Not exactly sure what to expect with regranex, but I would expect that the "it couldn't hurt" mentality could pervade. However, CHIR had some bad news after the close with depocyte getting the heave-ho from the fda...wouldn't have been a huge money maker, but we all know how negative news is taken by the market these days. The biotech sector continues to get clobbered daily, and today was no exception....genzl, chir(pre-news), vicl, isip, arrs, lifc, iart, icos, etc....except org, which continues to be extremely volatile....hope for their investors all works out okay...just has been a bit too unusual along the way for my taste. Don't know why people figure that ORG getting on the panel would be some horrific issue for ATIS though, even though all would like the honor of getting there first and becoming the undisputed leader in the industry....atis just looks to be wavering these days the same as the rest of the biotech industry(but not on much volume to speak of...good sign), and the more it sticks in these areas now, the more likely it is to have a sustained movement later with good news instead of the usual run in advance and get slammed later move, especially if the short % is still significant....many of the legit. companies are less likely to have that happen, or so history appears, although volatility along the way is expected. Just wish others here would consider sticking with the facts and opinions of them instead of agendas.....the news about the award the other day isn't any big deal, but of course atis should put out a release for people to know....doesn't take much analysis for people to give it the credit(minimal) it's worth for investing decisions at this point. Also, what does ORG's move today have to do with ATIS' likelihood of failure or success truly?.....the venous ulcer indication wouldn't even be the same as diabetic foot ulcers, and people seem to forget this, and there is room for more than one company to get involved. Anyway, merry x-mas to you and all here regardless of stock prices. Regards, Marshall

To: Harry D. Kramer who wrote (1246)	12/19/1997 11:51:00 PM
From: Marshall Teitelbaum	Read Replies (1) \| Respond to of 2205

Harry, Guess the wild biotech sector ride continues, punching under the 12.5 support just in time for option expiration. Will be interesting to se what happens in the next few weeks with lots of the selling from mutual funds, etc. coming to a close to a general degree. The truly wild ride for ORG obviously continues, as they're way up one day, way down the next, although nice for their investors that they didn't giv it all back in one day. I still wonder if people realize simply getting an fda approval is pretty meaningful, which dermagraft TC did, no matter how small and competitive the market, and if they happen to get another one in the not too distant future, it bodes well for the core technology. Anyway, not much to really add today, or lately for that matter. Hope all is well and have a nice weekend. Marshall