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Biotech / Medical : CNSI Cambridge Neuroscience -- Ignore unavailable to you. Want to Upgrade?

To: NeuroInvestment who wrote (343)	3/9/1998 10:21:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 675

That has to be the most bewildering news releases I've read for awhile. So, now you can buy a $1.00 dividend for $2.00? Kind of pricy when it looks like they are spinning down operations--what does the other buck buy you? I've followed this one for a little while now, mainly based on some speculation on the thread that cnsi might be aquired--maybe that will still occur after it goes ex-dividend?

To: NeuroInvestment who wrote (343)	3/13/1998 9:18:00 AM
From: Rudy Saucillo	Read Replies (1) \| Respond to of 675

<<Not the kind of cash conservation one would expect from a company seeking to maximize its ability to develop its R&D programs.>> Agreed. One possibility for reducing burn via layoffs and reducing cash (dividend payment and severance expenses) may be to make themselves more attractive for acquisition. Particularly by a pharma not needing the cash and not wanting the extra dilution necessary for it. I don't see the dividend as especially attractive for investors in the near term. Given the technology value of zero, it's more or less a buck in cash in exchange for a buck reduction in stock price. Rudy