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Biotech / Medical : ArQule -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (206)	5/10/1998 3:01:00 AM
From: Larry Liebman	Read Replies (1) \| Respond to of 399

I would suspect the company would not argue with you. I spoke to the CFO on Thursday, as I have a position in ARQL, and also wondered about the recent slide. The company position is that there was significant "hype", particularly surrounding the H&Q conference. They believe that there were unfounded expectations, e.g., significant new collaborations to coincide with H&Q. When those "expectations" failed to materialize the stock price eroded. On the other hand, the CFO mentioned that: (a) the company is barely 2 years public (b) has some 170 employees, probably moving to 240 by year end (c) does expect several significant new collaborations, as it is in almost continual negotiations with pharma and biotech (d) and believes its "allies" are quite satisfied with the progress being made in drug discovery. I wish you well. I will continue to hold ARQL. I am interested if there are any biotechs that meet your investment criteria.