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

To: Peter Goss who wrote (2270)	2/8/1998 7:35:00 PM
From: Brander	Read Replies (2) \| Respond to of 7041

Peter, I know you didnt ask me, but concerning the inside selling, that is usually not a good indicator. Insider buying is a much better indicator. People can need cash for a variety of reasons...buying a house, car, etc, and may need to liquidate stock for cash. Inside selling is usually only a panic sign is a bunch of insiders sell a bunch of shares at the same time, which is not the case here. Inside buying, on the other hand, is a much more positive indicator. Nobody would spend any money on an investment they new was bad. The question about the NDA filing, or lack of, is a very good question, and a big concern of mine as I am thinking about taking a position in this company. I don't know the answer. Concerning the delays---very common in the biotechs, esp the emerging companies. Brad

To: Peter Goss who wrote (2270)	2/9/1998 6:19:00 PM
From: Claud B	Read Replies (2) \| Respond to of 7041

In the order of your points. 1. Directors are just like anybody else. They have cash flow needs just like you and I. Two thousand shares mean nothing in the total picture of their holdings. Why did Bill Gates sell shares in Microsoft? Same reason as anyone else selling shares. 2.The NDA will be filed when all the data is in FDA presentable form. Have you ever tried to make an FDA filing? It is a huge, paper-intensive job. One that you want to get right the first time and not have to re-submit for additional information later on. 3. I don't think you're serious about point #3 so I'll pass. 4. Would you be skeptical if Microsoft says a newer version of Windows will be released on X date and it's delayed by 6 months? (and don't give me the "Wexler" answer to this one that Microsoft is a real company and Zonagen isn't.) ClaudB