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

To: Alan Newman who wrote (3750)	5/1/1998 11:22:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 7041

<<The part I'm still curious about is why shares are suddenly available. >> I'm not sure why people find this mysterious- what's wrong with the simple explanation that a lot of covering has gone on recently? Puzzled by the curious.... ;-) Anaxagoras

To: Alan Newman who wrote (3750)	5/1/1998 11:30:00 AM
From: Linda Kaplan	Respond to of 7041

I was just trying to think it through. I think before that the stock was in fewer hands, mostly people who held a long time, and that those people took possession of their shares, thinking they'd be holding a very long time, till the company might be profitable. Now, it's a speculation, driven up by the Viagra success. People are thinking, I think wrongly, that Zonagen will do well because Viagra has. The people who were holding long term, decided to sell, the way Dauntless lightened up, because it's a speculation and they have a big profit, a windfall, really. Now the people who bought expect to trade and are keeping their shares in house. One might be able to make up prior losses by shorting here. That's my thinking because I feel that the price is significantly inflated. There is no application to FDA, there may not be any approval and we're not going to see income, even if approved, for about a year after they apply. There's a good chance that the drug will not be approved at all, in my opinion. Linda