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To: Galirayo who wrote (7481)	4/28/1998 2:20:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 9262

[ MTRA ] Ray, Dunno. Yes, I like it, but..... from this point forward, it's largely instrumentation (not my expertise) rather than biologicals. The news today relates to their biologicals, the automation of their immunodiagnostic for bone resorption (Pyrilinks-D, for use in osteoporosis monitoring, etc.) by Bayer....... biz.yahoo.com First, I've watched them for years. They are a respected company and their effort is sincere. Again, I try to weed out the cr*ppy or hyped biotechs before I ever post regarding the sto screens. Due to a flawed business plan, they have been slow to get this assay off the ground, and forced to rely on others (Chiron and Bayer among them) to generate the market for them. Going forward, I think that revenues will build gradually from this assay. But here's the kicker...... from what I have heard (and this is the area where I lack expertise and this should therefore be considered as rumor), MTRA has a hand-held bone densitometer (ultrasound) that should give that from Hologic a run for the money. Few seem to disagree with the estimates of Hologic for market size. They're rather substantial. Why did I invest when I saw it on the Sto list? It was sitting at $2.25 with a shareholder's equity of $2.85/share on the last 10-Q, most of which was cash, cash equivalents, and short-term investments. Market cap was under $30 million. The Pyrilinks assay is highly respected, and I expect sales to start to cut into quarterly losses this year. So, you asked that I dig deep for a trigger. Here's a table from the last 10-K, 9/29/97......... <CAPTION> PRODUCTS IN DEVELOPMENT STATUS - ----------------------------------- ------------------------------------------------------------ <S> <C> Chondrex-TM- immunoassay for - Development--Expected to be available for research use only arthritis in calendar 1998 Portable ultrasound device to - Development--Expected to be launched internationally in assess bone fragility calendar 1998 Point-of-care version of - Development--Expected to be available for clinical use in Pyrilinks-D on Cholestech's L-D-X calendar 1998 Immunoassay System Serum Pyrilinks - Development--Expected to be available for research use in calendar 1998 Serum Pyrilinks-D - Development--Expected to be available for research use in calendar 1998 So, I figure that the ultrasound device could really pump this stock. With sufficient cash and a highly leveraged business plan, it's the sort of company and situation that I like. But, again, the densitometer is outside of my area of expertise, and I'm working largely on rumor regarding its competitive potential. Would appreciate any comments from those more knowledgeable. I want to be clear here..... this (densitometry) is not an area where I have expertise. I like the company and respect their immunochemistry, and I'm pleased with my investment. But the potential bang here is, IMO, in the densitiometry. Cheers! Rick