To: wendell morris who wrote (423 ) 3/15/1998 1:20:00 AM From: Tagore Read Replies (2) | Respond to
Wendell, I admit that I am quite long on this stock. I have held it for some time. I have especially liked the management and how they handle investor relations - the conference calls are especially helpful- they send us a copy of the transcript which we can then study at our leisure. I love this stock and am hoping to make my fortune on it. My main reasons for owning the stock are: (1) severe pain- think how much money people pay for pleasure- I think that everyone in the world would be interested in paying to escape severe pain - I at least have always dreaded the possibility of cancer pain and hope Ziconotide works well for such pain, (2) the acute pain market is entirely owned by NXCO and is worldwide, (3) none of the analysts has factored into the valuation the Warner Lambert Phase III trial for head trauma - if the preliminary report is favorable this year, the value will be marked up substantially, and (4) we are one year from approval of a blockbuster drug. In conclusion, by the end of the year when the analysts are redoing their projections, NXCO will be three months from approval of a major drug, and they may be adding into their projections future revenues from the head trauma drug as well as the acute pain revenues. We could get substantial institutional buying at that point. Approval on all the foregoing by 2001 gives us ownership of a new Amgen with a better pipeline. Again, I own a lot of this company and am not objective but I thought I would share my "long" outlook with you. By the way, I own one of the stocks in your reference - Vical. I have not been able to get a lot of enthusiasm for the others but I don't know as much about them as I do these two.
