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

To: Rick Slemmer who wrote (1240)	12/22/1997 1:00:00 PM
From: Dauntless	Read Replies (3) \| Respond to of 7041

Thanks for the reply, your advice is, for the most part, sound - but let me clarify/explain a few things. Re: "The soonest you can look for value in Zonagen is 2 or 3 years" If Zonagen files their NDA before the FDA responds to PFE's then they will be granted expedited review (6 months) - just like PFE. There are also international markets where the product can be marketed much sooner. Re: "Why not put your money to work in another sector" Zonagen represents a fairly small part of my portfolio - I am well diversified in other sectors. Re: "You're not supposed to sit through several dozen bad poker hands in the hopes that one will come up royal flush "any time now." History is littered with the dead carcasses of companies that were on the verge of phenomenal success. How can you possibly justify putting your money into a company (let alone a speculative pharmaceutical company) that has yet to make a dime in net income?" First of all, I long ago got all of my investment, & then some, back from Zonagen. Secondly, your question would lead to investment only in blue chips or other established companies. This whole biotech sector (and, I assume semiconductors, computers, etc.) is filled with companies that went a long time without net income. Amgen & Genetech had market caps & total investment during their development phases that dwarfed Zonagen's. Personally, (note - for me!) I would be be much more nervous about trying to time the emotional ups & downs of market psyche than to place a long term bet on a technology and market that I understand. Just MHO - thank you for sharing yours. Good luck - Happy holidays.