Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotime-Nasdaq's best kept secret? -- Ignore unavailable to you. Want to Upgrade?

To: Stephen How who wrote (911)	5/7/1998 10:51:00 AM
From: Annie	Read Replies (4) \| Respond to of 1432

sorry to be the bearer of bad news... but after today's report from Assensio, anyone long may want to re-think their position. he's not always right, but he seems to always have some kind of affect... good luck here's his release- Asensio & Co. BioTime Analyst Issues False Report NEW YORK, May 7 /PRNewswire/ -- Asensio & Co. today issued the following: David K. Crossen, an analyst employed by NationsBanc Montgomery, issued a new report on BioTime, Inc. (OTC Bulletin Board: BTIM) last week in response to an article criticizing the company in The Wall Street Journal. Since June 10, 1997 Mr. Crossen has written at least 19 highly positive reports on BioTime. The reports contain numerous material omissions of fact, false statements and factual errors. Mr. Crossen's April 29th report serves to illustrate his use of false and misleading statements to promote BioTime's stock. In his latest report Mr. Crossen writes that it was BioTime's bankers and lawyers who claim its products could be used as a blood substitute. This is not true. BioTime's management is responsible for their material misrepresentation of the possible uses and sales potential of its proposed product. Mr. Crossen also claims that these misrepresentations have no bearing on Hextend's use by physicians. This is true. The fact is that regardless of Mr. Crossen and BioTime's false statements and claims, the FDA will not allow the use of Hextend without a limitation on dosage, and physicians will not use Hextend beyond those limitations. Mr. Crossen uses his false dose and safety claims in order to support his further false claim that Hextend's sales will exceed even those of the entire hetastarch market. There exists no evidence of any kind that supports either of these claims. Hextend and Hespan are for all intents and purposes the same. They are not drugs as Mr. Crossen calls them. They are simple, low cost hetastarch solutions. BioTime's own trials showed absolutely no statistically significant difference in amount used or bleeding risk between Hextend and Hespan. Any statements to the contrary are necessarily false and irresponsible. Asensio & Company, Inc. is a New York based institutional investment bank specializing in corporate valuations and equity research. Asensio & Company also specializes in investigating fraudulent stock promotions and publishing research on grossly overvalued companies. Asensio & Company issued an institutional research report with a Strong Sell and Short Sell recommendation on BioTime, Inc. The report is available on Asensio & Company's internet home page located at www.asensio.com.