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

To: Rocketman who wrote (4948)	5/19/1998 1:14:00 PM
From: Vector1	Respond to of 9719

Looks like a pretty good deal for GENZ. Gives them a war chest to buy technology. Low rate perpetual preferred at a 30% plus premium to the market. -- TITLE: Genzyme General Raises $250 Million in Private Placement DATE: May 19, 1998 Genzyme General (Nasdaq:GENZ) announced today that it has entered into a purchase agreement for a private placement of $250 million aggregate principal amount of 5.25% Convertible Subordinated Notes due 2005. The sale of the Notes is expected to close on May 22, 1998. The Notes are not callable for three years and will be convertible into Genzyme General Common Stock at a conversion price of $39.60 per share. The Notes are the unsecured, subordinated obligations of Genzyme Corporation. Genzyme General intends to use the proceeds for general corporate purposes. The Notes and the Common Stock issuable upon conversion thereof have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes. This press release is being issued pursuant to and in accordance with Rule 135c under the United States Securities Act of 1933. ----------

To: Rocketman who wrote (4948)	5/19/1998 1:20:00 PM
From: Vector1	Read Replies (1) \| Respond to of 9719

Cytogen looks like it is going to close at about $1 today. Glad we took our lumps and got out when we did. Question is when is it worth buying an option on this pig. Current valuation is around $60m. V1

To: Rocketman who wrote (4948)	5/19/1998 9:59:00 PM
From: Cytokine1	Read Replies (2) \| Respond to of 9719

VD's MODEL PORTFOLIO 5/19/98 Change $345 UP 0.16% Started 4/9/97, $100K . INDEX ^IXB DOWN -0.37% YTD EQUITY CHANGE 27.8% a # CURRENT DAILY CURRENT COST TOTAL %GAIN/ % OF SYMBOL SHRS PRICE CHANGE %CHG VALUE SHR COST LOSS TOTAL ======= ======= ======= ======= ======= ======= ======= ======= ======= ======= CLTR 1000 31.50 -0.50 -1.56% 31500 10.88 10875 189.7% 14.1% GZTC 2770 10.13 0.13 1.25% 28046 7.737 21432 30.9% 12.6% INCY 1000 37.41 0.28 0.76% 37406 29.41 29409 27.2% 16.8% GENZ 530 28.22 -1.78 -5.94% 14956 23.50 12455 20.1% 6.7% BGEN 200 46.00 -1.13 -2.39% 9200 35.88 7175 28.2% 4.1% SEPR 146 44.25 0.25 0.57% 6461 37.16 5426 19.1% 2.9% DURA 300 27.69 -0.50 -1.77% 8306 24.63 7388 12.4% 3.7% AVIR 1000 29.50 0.75 2.61% 29500 27.88 27875 5.8% 13.2% MLNM 300 18.44 0.00 0.00% 5531 18.63 5588 -1.0% 2.5% LGNDW 3000 8.75 0.25 2.94% 26250 8.75 26250 0.0% 11.8% REGN 1000 9.75 0.13 1.30% 9750 12.00 12000 -18.8% 4.4% ABSC 1000 8.63 0.06 0.73% 8625 11.19 11189 -22.9% 3.9% GENZL 1000 7.25 -0.19 -2.52% 7250 10.36 10363 -30.0% 3.3% STOCK ______ ______ ______ ______ 222781 187424 18.9% 100.0% SHORT SALE CREDIT ______ ______ MARGIN MTCE. EQUITY 56.9% MIN 30% (95920) BUYING POWER $ ______ 30942 EQUITY (NAV) ______ ______ ______ 126862 100000 26.9% ^IXB INDEX 332.19 -1.24 -0.37% 302.42 9.8% 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, 3000 shrs MOGN @ $8.00 or less Open limit sell order, 260 shrs GENZ @ $35 5/14/98 -5214 ABSC bought 600 @ 8.69 5/13/98 -15375 AVIR bought 500 @ 30.75 5/13/98 -2660 INCY bought 5/13/98 70 @ $38 5/13/98 34875 MOGN sold 3000 @ $11.625, gain 134% 5/11/98 -8468.75 INCY bought 5/11/98, 250 additional @ $33.875 5/1/98 2125 GSII sold 500 @ 4.25, gain $0, broke even. 4/27/98 982 QGENF covered short, 100 @ $60.00, gain 14.1% 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