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

To: Bruce Rosen who wrote (1155)	12/20/1997 2:21:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 7041

Zonagen lie #2; Dr. Irwin Goldstein is a reputable consultant: abcnews.com

To: Bruce Rosen who wrote (1155)	12/20/1997 2:39:00 AM
From: Rick Slemmer	Read Replies (1) \| Respond to of 7041

If I might say a few words... (Full disclosure: I have no position in ZONA.) I've read the posts on this thread. I've read everything on the Zonagen website. I've read everything related to Zonagen on Asensio's website. And I've done some thinking about Zonagen. There are a few things that concern me about this stock. The biggest item is the correlation of stock price movement to Zonagen's buyback announcement. It seems to me that if a company announces a $10,000,000 stock buyback program, complete with such lawyerly phrases as "up to" and "from time to time", the stock should take off. Zonagen released their buyback statement on Friday, December 12. That same day, the stock dropped 3 5/8 points on roughly three times the average daily volume. Even allowing for the possibility that the news was released after the market closed and there was absolutely no leakage of the press release, activity the following Monday wasn't much better. Translation: the market didn't buy it. According to Vickers Insider Trading, Mr Ploth, the CFO of Zonagen, has all of 1,000 shares of Zonagen stock in his possession. He may or may not have a ton of options - I don't know. But anyone researching this company for investment purposes has got to wonder why the CFO doesn't have at least ten times that amount. Maybe it's no big deal, and maybe the information at Vickers is dated. But it would give me one more reason to wonder whether or not ZONA is the best place for my money. This guy knows the financial situation at Zonagen as well as anyone, and he has one thousand shares? The ZONA chart is not a reason to celebrate if you own the stock. Would you expect a fund manager or an institution to buy anything with almost 25 points of overhead supply, well below its 30-week moving average, a strong downtrend still in place, and relative strength that is off the low end of the chart? Not with my money. The longs need to ask themselves if they really believe that today's price is the bottom. I certainly don't. RS