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

To: Samuel Seward who wrote (2235)	2/6/1998 4:41:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 7041

Zonagen's accounting didn't really alarm me (however - check out TXB - a company with links to Zonagen investors/insiders, and very dubious royalty arrangements with their stock promoters). Most development stage companies are speculative - and money losers. Investors bet on future revenue streams - I would say that they are disappointed 95% of the time; however, being on the ground floor of an Amgen can make up for a lot of losers Obviously, this creates a fertile ground for massive hype and outright fraud. Zonagen falls into this category. Zonagen is hideously overpriced because its drug simply does not work....therefore there will be 0 market for it....therefore 0 revenues and 0 earnings. Right now, investors are paying $225,000,000 for a worthless shell.

To: Samuel Seward who wrote (2235)	2/6/1998 9:13:00 AM
From: Dauntless	Read Replies (3) \| Respond to of 7041

Samuel & thread Mr. Wexler's comments on TXB reflect what seems to be a particular dislike for Texas based companies [maybe just the ones on my profile ;-)]. A month or two ago he showed up on the TXB thread but quickly left with his tail between his legs. I guess if Asholio isn't making the kill this vulture can't find food (for thought?). FWIW - TXB has filed an NDA and been granted expedited review for a new anticoagulant (Novastan) for patients that have developed an allergy to heparin causing a condition called heparin induced thrombocytopenia. FDA decision is expected in the 2nd quarter. They also have a FULL product pipeline in various stages of clinical and pre-clinical trials. Just thought everyone might like to see the gang of thieves & villains that make up the TXB Board of Directors. John M. Pietruski Chairman of the Board, Retired Chairman and Chief Executive Officer, Sterling Drug Inc. David B. McWilliams President and Chief Executive Officer Rita R. Colwell, Ph.D. President, University of Maryland Biotechnology Institute Frank C. Carlucci Chairman,The Carlyle Group Robert J. Cruikshank Retired Senior Partner, Deloitte Touche LL James A. Thomson, Ph.D. President and Chief Executive Officer, RAND Corporation James T. Willerson, M.D. Professor and Chairman, Department of Internal Medicine The University of Texas Medical School ============================================================ Oh, and before I forget, the Advisory Director to the Company is: Denton A. Cooley, M.D. Surgeon-in-Chief, The Texas Heart Institute Ever hear of him?? Some people consider him the most influential physician of THIS CENTURY (please, no arguments here - this is not the point). However, to Mr. Wexler, Dr. Cooley is well known by the investment community to seek out fraudulent companies as he desperately needs some extra spending cash. OH, one more thing, Carlucci once held a small job - Sec'y. of Defense