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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (4727)	4/23/1998 9:55:00 AM
From: Vector1	Read Replies (1) \| Respond to of 9719

GSII news U.S. District Court Grants Summary Judgment for General Surgical Innovations in Suit By Guidant Origin/Guidant's Patent Found Unenforceable CUPERTINO, Calif., April 23 /PRNewswire/ -- General Surgical Innovations, Inc. (GSI) (Nasdaq: GSII - news) today announced that the United States District Court for the Northern District of California (The Court) granted GSI's motion for summary judgment of unenforceability of Origin Medsystems, Inc. (Origin) patent No. 5,520,609 which GSI had been charged with infringing. The Court found the '609 patent unenforceable by reason of inequitable conduct on the part of Origin in prosecuting the patent in the United States Patent and Trademark Office. Origin is a part of Guidant Corporation's (Guidant) (NYSE: GDT; PCX) Cardiac & Vascular Surgery Group. ''We view this latest development as a positive step in our patent litigation process and remain confident in our intellectual property position,'' stated Gregory D. Casciaro, President and Chief Executive Officer of GSI. GSI's SPACEMAKER tissue dissection systems, based on the company's patented balloon technology, rapidly and gently create surgical working spaces by separating natural tissue planes without resorting to blunt dissection used in conventional open surgery or minimally invasive surgery conducted outside of a natural body cavity. In procedures using SPACEMAKER dissectors, a surgeon creates a small incision through which the balloon is inserted and placed between naturally occurring tissue layers such as muscle, fat, and skin. Subsequently, the balloon is filled to a specific volume with air or saline, causing the desired dissection of the tissue planes. The system is then removed and the dissected space can be insufflated with gas to facilitate the performance of surgery. Headquartered in Cupertino, California, General Surgical Innovations, Inc. develops, manufactures, and sells tissue dissection systems based on the company's patented balloon technology for minimally invasive surgical procedures. The company's products are specifically designed for endoscopic and laparoscopic techniques for use in general, cardiovascular, orthopedic, cosmetic and reconstructive surgeries to create an operating space at the surgical site, lessen tissue damage and improve patient recovery time. The company has developed a broad range of balloon shapes and sizes to be used for various surgical techniques, procedures, and market segments. GSI distributes its products worldwide through a network of distribution partners and a direct sales force. For additional information, please visit the company's World Wide Web site at www.gsii.com. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Future market development and demand for the company's products, among other matters discussed in this release, may differ significantly from the discussion of such matters in the forward-looking statements. Such differences may be based upon factors within General Surgical Innovations' control, such as strategic planning decisions by management and reallocation of internal resources, or on factors outside of General Surgical Innovations' control, such as scientific advances by third parties, introduction of competitive products and delays by regulatory authorities, as well as those factors set forth under the heading 'Factors Affecting Future Results' in General Surgical Innovations' Annual Report on Form 10-K for the year ended June 30, 1997, Form 10-Q for the quarters ended September 30, 1997, December 31, 1997, and other company filings with the Securities and Exchange Commission. SOURCE: General Surgical Innovations, Inc.

To: Rocketman who wrote (4727)	4/23/1998 10:00:00 AM
From: Andreas Helke	Read Replies (1) \| Respond to of 9719

I can only tell you how Datek handles short selling accounting. Datek collects the money from the short sale and uses it for its own purposes. On top of it they collect margin interest from their customers. For all practical purposes a short sell is the same as a normal buy. The only difference is that Datek collects twice. First margin interest from the customer and second they can use the sell proceeds to collect further interest from other people. Datek is a good source for shares of difficult to short companies. But for people who hold short positions they are better of if they find a broker that does not collect margin interest on short positions. Since the shares in most cases come from the margin accounts of other Datek customers, Datek in general does not have any costs for acquireing the shares. Andreas

To: Rocketman who wrote (4727)	4/23/1998 9:54:00 PM
From: Cytokine1	Read Replies (1) \| Respond to of 9719

The QGENF short sale proceeds are a "fictitious credit" and, in my opinion, cannot be used to reduce the margin or to buy other stock. C1.

To: Rocketman who wrote (4727)	4/23/1998 11:26:00 PM
From: Cytokine1	Respond to of 9719

VD's MODEL PORTFOLIO 4/23/98 Change -$2633 DOWN -1.24% Started 4/9/97, $100K . INDEX ^IXB DOWN -0.45% YTD EQUITY CHANGE 19.6% # CURRENT DAILY CURRENT COST TOTAL %GAIN/ % OF SYMBOL SHRS PRICE CHANGE %CHG VALUE SHR COST LOSS TOTAL ======= ======= ======= ======= ======= ======= ======= ======= ======= ======= CLTR 1000 28.13 0.38 1.35% 28125 10.88 10875 158.6% 13.0% MOGN 3000 8.00 0.13 1.59% 24000 5.125 15375 56.1% 11.1% INCY 680 41.50 -0.50 -1.19% 28220 26.88 18280 54.4% 13.1% GZTC 2770 10.50 -0.38 -3.45% 29085 7.737 21432 35.7% 13.5% GENZ 530 29.78 -0.97 -3.15% 15784 23.50 12455 26.7% 7.3% SEPR 146 46.50 0.13 0.27% 6789 37.16 5426 25.1% 3.1% BGEN 200 43.94 -1.31 -2.90% 8788 35.88 7175 22.5% 4.1% GSII 500 4.50 0.50 12.50% 2250 4.25 2125 5.9% 1.0% DURA 300 25.56 -0.88 -3.31% 7669 24.63 7388 3.8% 3.6% MLNM 300 18.88 0.00 0.00% 5663 18.63 5588 1.3% 2.6% LGNDW 3000 8.75 0.00 0.00% 26250 8.75 26250 0.0% 12.2% AVIR 500 22.50 -0.25 -1.10% 11250 25.00 12500 -10.0% 5.2% REGN 1000 9.61 -0.95 -9.02% 9609 12.00 12000 -19.9% 4.5% GENZL 1000 7.88 -0.28 -3.45% 7875 10.36 10363 -24.0% 3.7% ABSC 400 10.88 -0.19 -1.69% 4350 14.94 5975 -27.2% 2.0% QGENF -100 65.25 -2.00 -2.97% -6525 69.82 -6982 6.5% STOCK ______ ______ ______ ______ 209181 166224 25.8% 100.0% SHORT SALE CREDIT ______ ______ 6982 MARGIN MTCE. EQUITY 51.2% MIN 30% (102184) BUYING POWER $ ______ 4813 EQUITY (NAV) ______ ______ ______ 113979 100000 14.0% ^IXB INDEX 325.87 -1.46 -0.45% 302.42 7.8% NOTES: OPEN orders subject to available buying power--- Open limit buy order, min 50 shrs, max 154 shrs SEPR @ 38 or less Open limit buy order, 100 shrs QGENF @ 60 to cover short position Open limit sell order, 260 shrs GENZ @35 or higher 4/23/98 -2125 GSII bought 500 @ 4.25 4/23/98 -4200 INCY bought, 100 additional @ 42 4/23/98 10565 GLFD sold 500 @ 21.13, loss 3560, -25.2% 4/23/98 5324 FUSE sold 400 @ 13.31, loss $351, -6.2% 4/20/98 -26250 LGNDW bought 3000 shrs @ 8.75 4/20/98 42437.50 LGND sold 2800 shrs @ $15.15625, profit 7627.5, 21.9% 4/9/98 -8674.5 Margin interest 1yr thru 4/8/98 7% times avg daily bal 119261.12 plus 680 trans fees ($10 times 68 transactions) 4/1/98 -7387.5 DURA bought 300 @ $24.625 4/1/98 -5587.5 MLNM bought 300 @ $18.625